Conduent Incorporated (NASDAQ:CNDT) CEO Buys $201,665.25 in Stock

Conduent Incorporated (NASDAQ:CNDTGet Rating) CEO Clifford Skelton purchased 47,675 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was acquired at an average price of $4.23 per share, with a total value of $201,665.25. Following the completion of the transaction, the chief executive officer now owns 2,862,831 shares of the company’s stock, valued at approximately $12,109,775.13. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Conduent Stock Performance

Shares of NASDAQ:CNDT opened at $4.34 on Friday. The company’s 50 day simple moving average is $4.55 and its 200 day simple moving average is $4.79. The stock has a market capitalization of $936.53 million, a price-to-earnings ratio of 9.86 and a beta of 1.65. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.77. Conduent Incorporated has a 1 year low of $3.71 and a 1 year high of $7.50.

Conduent (NASDAQ:CNDTGet Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $970.75 million. Conduent had a net margin of 2.69% and a return on equity of 9.08%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. As a group, research analysts predict that Conduent Incorporated will post 0.37 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNDT. Cowen dropped their price target on shares of Conduent to $4.50 in a research report on Friday, July 22nd. TheStreet upgraded shares of Conduent from a “d+” rating to a “c” rating in a research report on Tuesday, May 24th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.17.

Institutional Trading of Conduent

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Conduent by 4.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 465,220 shares of the company’s stock worth $2,010,000 after buying an additional 19,041 shares during the last quarter. Royce & Associates LP grew its stake in shares of Conduent by 1.4% during the second quarter. Royce & Associates LP now owns 1,479,592 shares of the company’s stock worth $6,392,000 after buying an additional 21,100 shares during the last quarter. Horizon Wealth Management LLC bought a new stake in shares of Conduent during the second quarter worth $43,000. SG Americas Securities LLC grew its stake in shares of Conduent by 967.8% during the second quarter. SG Americas Securities LLC now owns 396,237 shares of the company’s stock worth $1,712,000 after buying an additional 359,129 shares during the last quarter. Finally, Cranbrook Wealth Management LLC grew its stake in shares of Conduent by 19.2% during the second quarter. Cranbrook Wealth Management LLC now owns 134,957 shares of the company’s stock worth $583,000 after buying an additional 21,763 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Conduent Company Profile

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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; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

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