Conduent (NASDAQ:CNDT) Reaches New 52-Week High at $4.18

Conduent Incorporated (NASDAQ:CNDT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $4.18 and last traded at $4.17, with a volume of 75567 shares changing hands. The stock had previously closed at $4.15.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Conduent from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th.

Conduent Stock Down 1.0 %

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.87 and a current ratio of 1.87. The firm’s fifty day simple moving average is $3.51 and its 200 day simple moving average is $3.47. The stock has a market capitalization of $840.82 million, a price-to-earnings ratio of -4.61 and a beta of 1.52.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.06. The business had revenue of $921.00 million for the quarter, compared to analyst estimates of $896.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.50%. On average, sell-side analysts forecast that Conduent Incorporated will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 38,149,336 shares of the firm’s stock in a transaction that occurred on Saturday, June 8th. The shares were sold at an average price of $3.47, for a total transaction of $132,378,195.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Conduent

A number of institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in shares of Conduent by 9.2% in the first quarter. Diversified Trust Co now owns 50,866 shares of the company’s stock valued at $172,000 after purchasing an additional 4,306 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Conduent by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company’s stock worth $456,000 after buying an additional 7,890 shares in the last quarter. Guardian Capital LP bought a new stake in shares of Conduent in the first quarter valued at about $34,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of Conduent in the fourth quarter valued at about $48,000. Finally, NewEdge Wealth LLC acquired a new stake in Conduent in the 4th quarter worth about $48,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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.