Frontier Capital Management Co. LLC boosted its stake in Conduent Inc (NYSE:CNDT) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,249,526 shares of the company’s stock after purchasing an additional 350,431 shares during the period. Conduent comprises about 1.1% of Frontier Capital Management Co. LLC’s holdings, making the stock its 8th largest holding. Frontier Capital Management Co. LLC owned about 4.40% of Conduent worth $149,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its position in Conduent by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after acquiring an additional 527 shares during the period. Oppenheimer Asset Management Inc. increased its position in Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after acquiring an additional 6,046 shares during the period. First Allied Advisory Services Inc. acquired a new position in Conduent in the 3rd quarter valued at approximately $149,000. Stevens Capital Management LP acquired a new stake in shares of Conduent during the second quarter worth $161,000. Finally, Advisory Services Network LLC increased its position in shares of Conduent by 173.9% during the second quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after buying an additional 6,929 shares during the period. 88.70% of the stock is owned by institutional investors and hedge funds.
Conduent Inc (CNDT) traded up $0.05 during trading hours on Thursday, reaching $16.84. 5,681,800 shares of the company’s stock were exchanged, compared to its average volume of 2,566,973. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.74 and a quick ratio of 1.74. The firm has a market capitalization of $3,570.00 and a PE ratio of -3.49. Conduent Inc has a 1-year low of $14.11 and a 1-year high of $18.15.
Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Conduent had a negative net margin of 16.18% and a positive return on equity of 5.45%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period last year, the company posted $0.24 earnings per share. research analysts forecast that Conduent Inc will post 0.81 EPS for the current year.
CNDT has been the subject of several recent analyst reports. Cross Research upgraded shares of Conduent from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. SunTrust Banks reiterated a “buy” rating and set a $20.00 price objective on shares of Conduent in a research report on Friday, November 10th. BMO Capital Markets reiterated a “hold” rating and set a $18.00 price objective on shares of Conduent in a research report on Thursday, September 28th. BidaskClub cut shares of Conduent from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $19.60.
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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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