Insider Selling: Conduent Inc (CNDT) EVP Sells 106,500 Shares of Stock
Conduent Inc (NASDAQ:CNDT) EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total value of $1,811,565.00. Following the completion of the transaction, the executive vice president now owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
David Amoriell also recently made the following trade(s):
- On Friday, May 19th, David Amoriell sold 3,889 shares of Conduent stock. The stock was sold at an average price of $16.66, for a total value of $64,790.74.
Conduent Inc (CNDT) traded up 1.72% during trading on Wednesday, hitting $17.11. The stock had a trading volume of 1,947,589 shares. The company’s market capitalization is $3.58 billion. Conduent Inc has a 12-month low of $13.10 and a 12-month high of $18.15. The stock has a 50 day moving average price of $16.35 and a 200 day moving average price of $16.15.
Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Conduent had a negative net margin of 0.64% and a negative return on equity of 1.22%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $0.30 EPS. Conduent’s revenue was down 7.3% on a year-over-year basis. Equities research analysts forecast that Conduent Inc will post $0.76 earnings per share for the current year.
A number of equities analysts have recently commented on CNDT shares. Cowen and Company started coverage on Conduent in a research note on Friday, May 19th. They issued a “market perform” rating and a $18.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating and issued a $25.00 price objective (up from $17.00) on shares of Conduent in a research note on Friday, June 9th. Finally, Zacks Investment Research lowered Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $18.00.
A number of large investors have recently modified their holdings of CNDT. Frontier Capital Management Co. LLC increased its stake in shares of Conduent by 33.9% in the second quarter. Frontier Capital Management Co. LLC now owns 8,926,287 shares of the company’s stock valued at $142,285,000 after buying an additional 2,261,783 shares during the period. Samlyn Capital LLC bought a new stake in shares of Conduent during the second quarter valued at about $16,442,000. Junto Capital Management LP bought a new stake in shares of Conduent during the second quarter valued at about $16,386,000. Neuberger Berman Group LLC increased its stake in shares of Conduent by 133.3% in the second quarter. Neuberger Berman Group LLC now owns 1,748,391 shares of the company’s stock valued at $27,869,000 after buying an additional 999,084 shares during the period. Finally, St. James Investment Company LLC bought a new stake in shares of Conduent during the second quarter valued at about $13,580,000.
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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