JB Capital Partners LP Buys Shares of 1,113,061 Conduent Inc. $CNDT

JB Capital Partners LP purchased a new stake in Conduent Inc. (NASDAQ:CNDT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,113,061 shares of the company’s stock, valued at approximately $1,625,069. JB Capital Partners LP owned 0.72% of Conduent at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Blue Owl Capital Holdings LP bought a new position in Conduent in the 2nd quarter valued at $7,353,000. Nierenberg Investment Management Company LLC purchased a new stake in shares of Conduent in the second quarter worth approximately $25,630. Fore Capital LLC bought a new stake in shares of Conduent in the 2nd quarter valued at about $247,000. BlackRock Inc. acquired a new stake in shares of Conduent during the 2nd quarter worth approximately $20,194,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Conduent in the 2nd quarter valued at $30,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNDT has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Conduent from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. Zacks Research cut Conduent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Noble Financial raised Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Conduent Stock Up 0.3%

Shares of NASDAQ CNDT traded up $0.01 during mid-day trading on Friday, reaching $1.75. 256,321 shares of the company were exchanged, compared to its average volume of 1,302,969. Conduent Inc. has a 1 year low of $1.15 and a 1 year high of $2.98. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. The stock has a market cap of $271.38 million, a price-to-earnings ratio of -1.15 and a beta of 1.44. The firm has a 50-day moving average of $1.54 and a 200 day moving average of $1.51.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. The company had revenue of $531.00 million during the quarter, compared to analysts’ expectations of $702.00 million. On average, research analysts expect that Conduent Inc. will post -0.37 earnings per share for the current year.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.