Teachers Advisors LLC lessened its holdings in shares of Conduent Inc (NYSE:CNDT) by 54.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 473,721 shares of the company’s stock after selling 558,485 shares during the quarter. Teachers Advisors LLC owned approximately 0.23% of Conduent worth $7,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after acquiring an additional 527 shares during the last quarter. First Allied Advisory Services Inc. purchased a new position in shares of Conduent during the 3rd quarter worth $149,000. Financial Consulate Inc. purchased a new position in shares of Conduent during the 4th quarter worth $181,000. State of Alaska Department of Revenue purchased a new position in shares of Conduent during the 4th quarter worth $215,000. Finally, Yellowstone Partners LLC purchased a new position in shares of Conduent during the 3rd quarter worth $228,000. Institutional investors and hedge funds own 93.14% of the company’s stock.
CNDT opened at $18.76 on Friday. 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 fifty-two week low of $14.95 and a fifty-two week high of $20.32. The firm has a market cap of $3,935.77, a P/E ratio of 22.00 and a beta of -0.69.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Conduent from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. BMO Capital Markets reiterated a “market perform” rating and set a $19.00 price target (up previously from $17.00) on shares of Conduent in a research note on Thursday, February 22nd. Susquehanna Bancshares assumed coverage on shares of Conduent in a research note on Wednesday, March 7th. They set a “positive” rating and a $23.00 price target on the stock. Needham & Company LLC upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Tuesday, March 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target (up previously from $17.50) on shares of Conduent in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $21.50.
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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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