Shares of Conduent Incorporated (NASDAQ:CNDT – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $4.16, but opened at $4.07. Conduent shares last traded at $4.14, with a volume of 35,488 shares.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Conduent from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th.
Check Out Our Latest Analysis on Conduent
Conduent Stock Performance
Conduent (NASDAQ:CNDT – Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.06. The firm had revenue of $921.00 million for the quarter, compared to analysts’ expectations of $896.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.50%. On average, equities research analysts anticipate that Conduent Incorporated will post -0.72 earnings per share for the current year.
Insider Activity
In other news, major shareholder Carl C. Icahn sold 38,149,336 shares of the firm’s stock in a transaction dated Saturday, June 8th. The shares were sold at an average price of $3.47, for a total transaction of $132,378,195.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.84% of the company’s stock.
Hedge Funds Weigh In On Conduent
Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Conduent by 0.3% in the third quarter. Vanguard Group Inc. now owns 17,422,018 shares of the company’s stock worth $60,629,000 after buying an additional 48,742 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Conduent by 36.8% in the fourth quarter. SG Americas Securities LLC now owns 75,972 shares of the company’s stock worth $277,000 after buying an additional 20,448 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Conduent by 46.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 455,501 shares of the company’s stock worth $1,663,000 after buying an additional 144,946 shares during the period. Cerity Partners LLC acquired a new position in shares of Conduent in the fourth quarter worth about $81,000. Finally, NewEdge Wealth LLC acquired a new position in shares of Conduent in the fourth quarter worth about $48,000. Institutional investors own 77.28% of the company’s stock.
About Conduent
Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.
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