13,059 Shares in Conduent Incorporated (NASDAQ:CNDT) Purchased by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. acquired a new position in Conduent Incorporated (NASDAQ:CNDT) during the 4th quarter, Holdings Channel reports. The fund acquired 13,059 shares of the company’s stock, valued at approximately $48,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Conduent by 0.3% during the third quarter. Vanguard Group Inc. now owns 17,422,018 shares of the company’s stock worth $60,629,000 after purchasing an additional 48,742 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Conduent by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,813,643 shares of the company’s stock worth $13,271,000 after acquiring an additional 393,334 shares during the last quarter. AMH Equity Ltd raised its holdings in shares of Conduent by 7.4% in the 4th quarter. AMH Equity Ltd now owns 1,600,000 shares of the company’s stock worth $5,840,000 after purchasing an additional 110,000 shares during the period. Rubric Capital Management LP acquired a new position in shares of Conduent in the 3rd quarter valued at about $2,905,000. Finally, Atalaya Capital Management LP grew its holdings in shares of Conduent by 278.8% during the 3rd quarter. Atalaya Capital Management LP now owns 578,585 shares of the company’s stock worth $2,013,000 after purchasing an additional 425,847 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CNDT shares. StockNews.com upgraded shares of Conduent from a “hold” rating to a “buy” rating in a report on Wednesday. Noble Financial began coverage on shares of Conduent in a research note on Thursday, March 14th. They issued an “outperform” rating and a $9.00 target price on the stock.

Conduent Price Performance

CNDT stock opened at $3.76 on Wednesday. The firm has a market cap of $769.22 million, a P/E ratio of -4.18 and a beta of 1.60. The stock has a 50-day simple moving average of $3.29 and a 200-day simple moving average of $3.31. Conduent Incorporated has a 1 year low of $2.40 and a 1 year high of $4.08. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.91 and a current ratio of 1.91.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $953.00 million during the quarter, compared to analyst estimates of $930.00 million. Conduent had a negative return on equity of 2.48% and a negative net margin of 5.13%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 EPS. On average, equities analysts predict that Conduent Incorporated will post 1.06 earnings per share for the current fiscal year.

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.