Two Sigma Investments LP raised its holdings in Conduent Inc (NYSE:CNDT) by 31.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,192,325 shares of the company’s stock after acquiring an additional 527,934 shares during the quarter. Two Sigma Investments LP owned approximately 1.04% of Conduent worth $35,428,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in shares of Conduent by 6.6% in the 2nd 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 during the period. First Allied Advisory Services Inc. purchased a new stake in shares of Conduent in the 3rd quarter worth $149,000. Financial Consulate Inc. purchased a new stake in shares of Conduent in the 4th quarter worth $181,000. State of Alaska Department of Revenue purchased a new stake in shares of Conduent in the 4th quarter worth $215,000. Finally, Yellowstone Partners LLC purchased a new stake in shares of Conduent in the 3rd quarter worth $228,000. 93.15% of the stock is currently owned by institutional investors.
Shares of Conduent Inc (NYSE CNDT) opened at $19.68 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market capitalization of $4,129.41, a price-to-earnings ratio of 24.00 and a beta of -1.08. Conduent Inc has a 12 month low of $14.95 and a 12 month high of $20.32.
Several equities research analysts have weighed in on CNDT shares. Zacks Investment Research cut Conduent from a “buy” rating to a “hold” rating in a report on Friday, December 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $19.00 target price (up from $17.00) on shares of Conduent in a report on Thursday, February 22nd. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 target price (up from $17.50) on shares of Conduent in a report on Thursday, February 22nd. SunTrust Banks reiterated a “buy” rating and issued a $22.00 target price on shares of Conduent in a report on Friday, February 23rd. Finally, Cowen reiterated a “hold” rating on shares of Conduent in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $21.50.
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Conduent Company 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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