Glenmede Trust Co. NA Boosts Stake in Conduent Inc (CNDT)

Glenmede Trust Co. NA grew its position in Conduent Inc (NYSE:CNDT) by 125.9% during the 4th quarter, Holdings Channel reports. The firm owned 136,688 shares of the company’s stock after purchasing an additional 76,177 shares during the period. Glenmede Trust Co. NA’s holdings in Conduent were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of CNDT. The Manufacturers Life Insurance Company grew its position in Conduent by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after buying an additional 527 shares in the last quarter. First Allied Advisory Services Inc. acquired a new stake in Conduent during the third quarter worth approximately $149,000. Financial Consulate Inc. acquired a new stake in Conduent during the fourth quarter worth approximately $181,000. State of Alaska Department of Revenue acquired a new stake in Conduent during the fourth quarter worth approximately $215,000. Finally, Yellowstone Partners LLC acquired a new stake in Conduent during the third quarter worth approximately $228,000. 93.14% of the stock is currently owned by institutional investors.

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Shares of Conduent Inc (CNDT) opened at $19.07 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.98 and a current ratio of 1.98. Conduent Inc has a 12 month low of $14.95 and a 12 month high of $20.32. The firm has a market capitalization of $4,013.65, a price-to-earnings ratio of 23.26 and a beta of -1.08.

Conduent (NYSE:CNDT) last released its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.05. Conduent had a return on equity of 5.53% and a net margin of 3.01%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. equities analysts anticipate that Conduent Inc will post 1.09 EPS for the current fiscal year.

A number of equities research analysts recently issued reports on CNDT shares. SunTrust Banks reissued a “buy” rating and set a $22.00 price target on shares of Conduent in a research report on Friday, February 23rd. Cowen reissued a “hold” rating on shares of Conduent in a research report on Tuesday, February 27th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Friday, February 23rd. Morgan Stanley reissued an “equal weight” rating and set a $20.00 price target (up previously from $17.50) on shares of Conduent in a research report on Thursday, February 22nd. Finally, Susquehanna Bancshares started coverage on Conduent in a research report on Wednesday, March 7th. They set a “positive” rating and a $23.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $21.50.

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Conduent Profile

Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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