St. James Investment Company LLC purchased a new stake in shares of Conduent Inc (NASDAQ:CNDT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 851,965 shares of the company’s stock, valued at approximately $13,580,000. Conduent comprises about 1.7% of St. James Investment Company LLC’s investment portfolio, making the stock its 17th largest position. St. James Investment Company LLC owned approximately 0.41% of Conduent at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Community Financial Services Group LLC purchased a new stake in Conduent during the first quarter valued at about $202,000. Trexquant Investment LP purchased a new stake in Conduent during the second quarter valued at about $204,000. Sei Investments Co. raised its stake in Conduent by 20.7% in the second quarter. Sei Investments Co. now owns 14,787 shares of the company’s stock valued at $235,000 after buying an additional 2,533 shares during the period. Nisa Investment Advisors LLC raised its stake in Conduent by 7.1% in the second quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after buying an additional 2,000 shares during the period. Finally, Alpha Windward LLC raised its stake in Conduent by 1.5% in the second quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after buying an additional 524 shares during the period.
Shares of Conduent Inc (CNDT) traded down 0.71% during midday trading on Friday, reaching $16.77. 1,102,967 shares of the company’s stock were exchanged. The company’s market cap is $3.51 billion. The firm has a 50 day moving average price of $16.45 and a 200 day moving average price of $16.17. Conduent Inc has a 12 month low of $13.10 and a 12 month high of $18.15.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Conduent had a negative return on equity of 1.22% and a negative net margin of 0.64%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the business posted $0.30 earnings per share. The company’s revenue was down 7.3% on a year-over-year basis. Equities research analysts forecast that Conduent Inc will post $0.76 earnings per share for the current fiscal year.
CNDT has been the topic of several analyst reports. Cowen and Company initiated coverage on shares of Conduent in a research report on Friday, May 19th. They set a “market perform” rating and a $18.00 price target on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $25.00 price target (up from $17.00) on shares of Conduent in a research report on Friday, June 9th. Finally, Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $18.00.
In other news, EVP David Amoriell sold 106,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the sale, the executive vice president now directly owns 120,630 shares in the company, valued at $2,051,916.30. The sale was disclosed in a document filed with the SEC, which is available at this link.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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