Integrated Wealth Concepts LLC Buys New Shares in Conduent Incorporated (NASDAQ:CNDT)

Posted by on Aug 8th, 2023

Integrated Wealth Concepts LLC purchased a new position in Conduent Incorporated (NASDAQ:CNDT – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,976 shares of the company’s stock, valued at approximately $38,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Conduent by 64.6% during the 1st quarter. JPMorgan Chase & Co. now owns 399,242 shares of the company’s stock valued at $2,060,000 after purchasing an additional 156,754 shares during the period. Bank of New York Mellon Corp grew its stake in Conduent by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,058,972 shares of the company’s stock valued at $5,464,000 after acquiring an additional 36,888 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Conduent by 88.9% in the first quarter. MetLife Investment Management LLC now owns 81,505 shares of the company’s stock worth $421,000 after purchasing an additional 38,357 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Conduent by 6.9% during the first quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock worth $87,546,000 after purchasing an additional 1,099,590 shares during the period. Finally, APG Asset Management N.V. purchased a new position in Conduent during the first quarter valued at approximately $1,007,000. 76.85% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Down 4.0 %

Conduent stock opened at $3.32 on Tuesday. The company has a market capitalization of $722.90 million, a P/E ratio of -2.11 and a beta of 1.80. Conduent Incorporated has a 1-year low of $2.69 and a 1-year high of $4.95. The firm’s fifty day simple moving average is $3.39 and its 200-day simple moving average is $3.36. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.37.

Conduent (NASDAQ:CNDT – Get Free Report) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. Conduent had a positive return on equity of 3.52% and a negative net margin of 8.71%. The company had revenue of $915.00 million during the quarter, compared to analysts’ expectations of $900.00 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. StockNews.com initiated coverage on shares of Conduent in a report on Thursday, May 18th. They set a “hold” rating on the stock. TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a research note on Wednesday, May 3rd.

Get Our Latest Research Report on CNDT

Conduent Profile

(Free Report)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

Featured Articles

Institutional Ownership by Quarter for Conduent (NASDAQ:CNDT)

Receive News & Ratings for Conduent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent and related companies with MarketBeat.com's FREE daily email newsletter.