World Asset Management Inc Acquires 5,678 Shares of Conduent Inc (NYSE:CNDT)

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World Asset Management Inc grew its holdings in shares of Conduent Inc (NYSE:CNDT) by 30.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,302 shares of the company’s stock after buying an additional 5,678 shares during the period. World Asset Management Inc’s holdings in Conduent were worth $58,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in shares of Conduent by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 1,117,214 shares of the company’s stock worth $6,927,000 after buying an additional 2,795 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Conduent by 1.3% in the 1st quarter. Swiss National Bank now owns 348,454 shares of the company’s stock worth $854,000 after purchasing an additional 4,600 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Conduent by 73.7% in the 1st quarter. Principal Financial Group Inc. now owns 17,542 shares of the company’s stock worth $43,000 after purchasing an additional 7,443 shares in the last quarter. Howard Financial Services LTD. bought a new position in shares of Conduent in the 1st quarter worth $25,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Conduent by 6.1% in the 1st quarter. Russell Investments Group Ltd. now owns 235,077 shares of the company’s stock worth $574,000 after purchasing an additional 13,413 shares in the last quarter. Hedge funds and other institutional investors own 87.58% of the company’s stock.

In other Conduent news, EVP Michael E. Krawitz bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average cost of $1.99 per share, with a total value of $29,850.00. Following the transaction, the executive vice president now directly owns 508,337 shares in the company, valued at approximately $1,011,590.63. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director A. Scott Letier bought 16,434 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $2.07 per share, with a total value of $34,018.38. Following the completion of the transaction, the director now owns 151,672 shares in the company, valued at $313,961.04. The disclosure for this purchase can be found here. Insiders purchased a total of 86,994 shares of company stock valued at $163,876 over the last three months. 0.92% of the stock is currently owned by insiders.

CNDT has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut Conduent from an “overweight” rating to a “neutral” rating in a report on Monday, April 13th. Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a report on Monday, July 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $3.00 target price on shares of Conduent in a report on Friday, May 8th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.50.

NYSE CNDT opened at $1.91 on Friday. The firm has a market capitalization of $399.32 million, a P/E ratio of 1.82 and a beta of 1.87. The business has a fifty day simple moving average of $2.26 and a 200 day simple moving average of $2.89. Conduent Inc has a 12 month low of $1.54 and a 12 month high of $9.35. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.92.

Conduent (NYSE:CNDT) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1 billion. Conduent had a negative net margin of 32.11% and a positive return on equity of 6.33%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 earnings per share. As a group, sell-side analysts predict that Conduent Inc will post 0.62 EPS for the current fiscal year.

Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

Further Reading: Coverage Ratio

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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World Asset Management Inc Acquires 5,678 Shares of Conduent Inc
World Asset Management Inc Acquires 5,678 Shares of Conduent Inc


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