Conduent Inc (NYSE:CNDT) Shares Purchased by Tower Research Capital LLC TRC

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Tower Research Capital LLC TRC raised its position in Conduent Inc (NYSE:CNDT) by 153.7% during the third quarter, Holdings Channel.com reports. The firm owned 6,817 shares of the company’s stock after buying an additional 4,130 shares during the period. Tower Research Capital LLC TRC’s holdings in Conduent were worth $43,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its stake in Conduent by 342.5% in the second quarter. Parallel Advisors LLC now owns 2,757 shares of the company’s stock valued at $26,000 after purchasing an additional 2,134 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Conduent in the 2nd quarter worth about $50,000. HM Payson & Co. acquired a new stake in Conduent in the 2nd quarter worth about $67,000. World Asset Management Inc acquired a new stake in Conduent in the 2nd quarter worth about $101,000. Finally, US Bancorp DE grew its holdings in Conduent by 47.2% in the 2nd quarter. US Bancorp DE now owns 13,362 shares of the company’s stock valued at $128,000 after buying an additional 4,287 shares during the period. Institutional investors own 87.57% of the company’s stock.

Shares of Conduent stock opened at $6.75 on Wednesday. The business’s fifty day moving average price is $6.35 and its 200 day moving average price is $7.56. Conduent Inc has a twelve month low of $5.26 and a twelve month high of $15.48. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $1.43 billion, a P/E ratio of 6.43 and a beta of 1.87.

Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.08 billion. Conduent had a positive return on equity of 6.33% and a negative net margin of 32.11%. The firm’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, sell-side analysts predict that Conduent Inc will post 0.63 EPS for the current year.

A number of research analysts have recently commented on CNDT shares. JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Friday, August 9th. Needham & Company LLC set a $9.00 target price on shares of Conduent and gave the stock a “buy” rating in a research report on Tuesday, September 24th. ValuEngine upgraded shares of Conduent from a “sell” rating to a “hold” rating in a report on Thursday, November 28th. Zacks Investment Research lowered shares of Conduent from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, Cowen set a $8.00 price target on shares of Conduent and gave the stock a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $10.08.

Conduent Profile

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

Further Reading: What are economic reports?

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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