Conduent Inc. $CNDT Position Raised by Neuberger Berman Group LLC

Neuberger Berman Group LLC boosted its position in Conduent Inc. (NASDAQ:CNDT) by 3.0% in the second quarter, HoldingsChannel.com reports. The firm owned 15,239,805 shares of the company’s stock after purchasing an additional 445,372 shares during the quarter. Neuberger Berman Group LLC owned about 0.10% of Conduent worth $40,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Conduent in the first quarter valued at $28,000. Boothbay Fund Management LLC bought a new stake in Conduent in the second quarter worth about $29,000. Goldman Sachs Group Inc. lifted its holdings in Conduent by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after acquiring an additional 11,428 shares during the last quarter. IHT Wealth Management LLC bought a new position in shares of Conduent during the 2nd quarter valued at about $34,000. Finally, HTG Investment Advisors Inc. acquired a new position in shares of Conduent in the 2nd quarter worth approximately $36,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Trading Down 4.3%

Shares of NASDAQ CNDT opened at $2.00 on Friday. Conduent Inc. has a one year low of $1.72 and a one year high of $4.90. The firm has a market capitalization of $305.78 million, a PE ratio of -2.04 and a beta of 1.34. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.97. The business has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $2.51.

Conduent (NASDAQ:CNDT) last issued its earnings results on Friday, November 7th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $767.00 million during the quarter, compared to analyst estimates of $792.00 million. Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. Conduent’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) EPS. As a group, analysts predict that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CNDT shares. Singular Research upgraded shares of Conduent to a “strong-buy” rating in a research report on Tuesday, August 19th. Wall Street Zen lowered Conduent from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Conduent currently has a consensus rating of “Moderate Buy”.

Conduent Company Profile

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.