Key Points
- CEO Harshavardhan Agadi bought 117,099 shares on Feb. 20 at an average price of $1.56 (total ~$182,674), raising his stake to 337,099 shares—a 53.23% increase—and the purchase was disclosed in an SEC filing.
- Conduent recently missed quarterly expectations (EPS $(0.09) vs. $(0.06) expected) and reported $770M revenue vs. $790.5M consensus, trading around $1.51 with a market cap near $234M and analysts forecasting FY EPS of about $(0.34).
- Institutional investors own roughly 77.28% of the stock, and analyst ratings are mixed (ranging from Strong Buy to Sell) with an overall average of "Moderate Buy."
Conduent Inc. (NASDAQ:CNDT - Get Free Report) CEO Harshavardhan Agadi bought 117,099 shares of the business's stock in a transaction on Friday, February 20th. The shares were bought at an average price of $1.56 per share, for a total transaction of $182,674.44. Following the completion of the acquisition, the chief executive officer owned 337,099 shares of the company's stock, valued at approximately $525,874.44. This represents a 53.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
Conduent Stock Performance
CNDT opened at $1.51 on Tuesday. The company has a market cap of $233.61 million, a PE ratio of -1.35 and a beta of 1.32. The stock has a 50-day moving average of $1.75 and a 200-day moving average of $2.20. Conduent Inc. has a 52-week low of $1.18 and a 52-week high of $3.79. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.57 and a current ratio of 1.57.
Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.03). Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The company had revenue of $770.00 million during the quarter, compared to the consensus estimate of $790.50 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The firm's revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Conduent
Hedge funds and other institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Conduent by 323.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,757,577 shares of the company's stock worth $7,280,000 after purchasing an additional 2,106,956 shares in the last quarter. Prudential Financial Inc. lifted its position in Conduent by 7.1% in the second quarter. Prudential Financial Inc. now owns 2,576,089 shares of the company's stock worth $6,801,000 after purchasing an additional 171,846 shares during the period. Neuberger Berman Group LLC boosted its stake in Conduent by 3.0% during the second quarter. Neuberger Berman Group LLC now owns 15,239,805 shares of the company's stock worth $40,233,000 after buying an additional 445,372 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Conduent during the second quarter worth $100,000. Finally, XTX Topco Ltd increased its holdings in Conduent by 83.8% in the 2nd quarter. XTX Topco Ltd now owns 316,255 shares of the company's stock valued at $835,000 after buying an additional 144,181 shares during the period. Institutional investors and hedge funds own 77.28% of the company's stock.
Wall Street Analysts Forecast Growth
CNDT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Conduent from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings reissued a "sell (d)" rating on shares of Conduent in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".
View Our Latest Stock Analysis on CNDT
About Conduent
(
Get Free Report)
Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.
Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.
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