Dimensional Fund Advisors LP increased its holdings in shares of Conduent Inc (NYSE:CNDT) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,454,723 shares of the company’s stock after purchasing an additional 378,187 shares during the quarter. Dimensional Fund Advisors LP owned 2.58% of Conduent worth $122,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Iridian Asset Management LLC CT bought a new position in Conduent in the third quarter valued at about $152,788,000. FMR LLC lifted its holdings in Conduent by 7.8% in the third quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after acquiring an additional 1,711,445 shares during the period. First Trust Advisors LP lifted its holdings in Conduent by 303.2% in the third quarter. First Trust Advisors LP now owns 1,615,391 shares of the company’s stock valued at $36,379,000 after acquiring an additional 1,214,772 shares during the period. Hennessy Advisors Inc. bought a new position in Conduent in the third quarter valued at about $27,137,000. Finally, Point72 Asset Management L.P. lifted its holdings in Conduent by 204.8% in the second quarter. Point72 Asset Management L.P. now owns 1,618,547 shares of the company’s stock valued at $29,409,000 after acquiring an additional 1,087,447 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.
NYSE CNDT opened at $11.96 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.59 and a current ratio of 1.59. Conduent Inc has a 52 week low of $11.80 and a 52 week high of $23.39. The stock has a market capitalization of $2.60 billion, a PE ratio of 11.18 and a beta of 0.66.
Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). Conduent had a positive return on equity of 6.88% and a negative net margin of 1.21%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business earned $0.22 EPS. The firm’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, equities analysts predict that Conduent Inc will post 1.07 EPS for the current fiscal year.
CNDT has been the topic of a number of recent research reports. SunTrust Banks lowered their target price on Conduent to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. Morgan Stanley set a $16.00 target price on Conduent and gave the company a “hold” rating in a report on Thursday, November 8th. Zacks Investment Research downgraded Conduent from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 13th. ValuEngine downgraded Conduent from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Finally, TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a report on Monday, December 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $21.57.
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Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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