Conduent Incorporated (NASDAQ:CNDT) Director Purchases $49,500.00 in Stock

Conduent Incorporated (NASDAQ:CNDT) Director A. Scott Letier bought 10,000 shares of the firm’s stock in a transaction on Monday, February 22nd. The shares were bought at an average price of $4.95 per share, with a total value of $49,500.00. Following the completion of the purchase, the director now owns 247,250 shares in the company, valued at approximately $1,223,887.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Conduent stock traded down $0.01 during mid-day trading on Tuesday, hitting $5.05. The stock had a trading volume of 4,430,368 shares, compared to its average volume of 2,097,330. The firm has a market capitalization of $1.06 billion, a P/E ratio of -1.53 and a beta of 1.92. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.33. The firm’s 50 day moving average is $5.13 and its 200 day moving average is $4.23. Conduent Incorporated has a one year low of $1.54 and a one year high of $6.05.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, February 17th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Conduent had a negative net margin of 16.35% and a positive return on equity of 11.40%. As a group, equities research analysts forecast that Conduent Incorporated will post 0.61 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in Conduent by 2.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 100,980 shares of the company’s stock worth $485,000 after buying an additional 2,677 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Conduent by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 293,695 shares of the company’s stock valued at $934,000 after purchasing an additional 3,442 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Conduent by 35.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 16,353 shares of the company’s stock valued at $52,000 after purchasing an additional 4,321 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Conduent by 14.4% during the 3rd quarter. Verdence Capital Advisors LLC now owns 49,291 shares of the company’s stock valued at $157,000 after purchasing an additional 6,213 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Conduent during the 4th quarter valued at about $38,000. 72.87% of the stock is owned by institutional investors.

CNDT has been the subject of several analyst reports. Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a research note on Wednesday, February 17th. JPMorgan Chase & Co. upped their price objective on Conduent from $5.00 to $6.00 and gave the stock a “neutral” rating in a research note on Friday, December 11th.

Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. 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.

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