Conduent Inc. $CNDT Shares Bought by Miller Value Partners LLC

Miller Value Partners LLC lifted its stake in shares of Conduent Inc. (NASDAQ:CNDT) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,583,385 shares of the company’s stock after buying an additional 1,552,560 shares during the period. Conduent comprises approximately 3.8% of Miller Value Partners LLC’s investment portfolio, making the stock its 9th biggest position. Miller Value Partners LLC’s holdings in Conduent were worth $10,720,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC grew its stake in shares of Conduent by 89.7% in the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after purchasing an additional 5,165 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Conduent in the second quarter worth $29,000. Modern Wealth Management LLC bought a new stake in shares of Conduent in the third quarter worth $34,000. IHT Wealth Management LLC bought a new stake in shares of Conduent in the second quarter worth $34,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of Conduent in the third quarter worth $39,000. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Shares of Conduent stock opened at $1.43 on Thursday. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.09. The stock has a market cap of $221.79 million, a price-to-earnings ratio of -1.40 and a beta of 1.42. The company’s fifty day moving average is $1.60 and its 200 day moving average is $1.63. Conduent Inc. has a twelve month low of $1.15 and a twelve month high of $2.98.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $723.00 million for the quarter, compared to analysts’ expectations of $746.67 million. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. Sell-side analysts forecast that Conduent Inc. will post -0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CNDT shares. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research note on Monday, April 20th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy”.

About Conduent

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.