Blue Owl Capital Holdings LP Invests $7.35 Million in Conduent Inc. $CNDT

Blue Owl Capital Holdings LP acquired a new stake in Conduent Inc. (NASDAQ:CNDT) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 5,036,595 shares of the company’s stock, valued at approximately $7,353,000. Conduent comprises approximately 1.1% of Blue Owl Capital Holdings LP’s portfolio, making the stock its 18th largest position.

A number of other large investors have also made changes to their positions in CNDT. Nierenberg Investment Management Company LLC acquired a new position in Conduent in the 2nd quarter valued at about $25,630,000. Fore Capital LLC acquired a new stake in shares of Conduent during the 2nd quarter worth about $247,000. BlackRock Inc. purchased a new stake in shares of Conduent during the second quarter worth about $20,194,000. Pallas Capital Advisors LLC purchased a new stake in shares of Conduent during the second quarter worth about $30,000. Finally, Deutsche Bank AG acquired a new position in shares of Conduent in the second quarter valued at approximately $176,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CNDT. Wall Street Zen downgraded shares of Conduent from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. Zacks Research cut shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Noble Financial upgraded Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Friday, July 17th. One equities 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 data from MarketBeat, the company currently has a consensus rating of “Hold”.

Conduent Price Performance

Conduent stock opened at $1.55 on Friday. Conduent Inc. has a 1 year low of $1.15 and a 1 year high of $2.98. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a 50 day moving average price of $1.51 and a 200 day moving average price of $1.50. The company has a market cap of $241.06 million, a price-to-earnings ratio of -1.02 and a beta of 1.44.

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

Conduent Profile

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.