Prudential Financial Inc. Buys 171,846 Shares of Conduent Inc. $CNDT

Prudential Financial Inc. boosted its stake in Conduent Inc. (NASDAQ:CNDT) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,576,089 shares of the company’s stock after acquiring an additional 171,846 shares during the period. Prudential Financial Inc.’s holdings in Conduent were worth $6,801,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNDT. Truvestments Capital LLC acquired a new position in shares of Conduent in the 1st quarter worth approximately $28,000. Goldman Sachs Group Inc. increased its position in shares of Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock worth $5,300,000 after buying an additional 11,428 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Conduent during the first quarter worth $32,000. HTG Investment Advisors Inc. bought a new position in Conduent during the second quarter worth $36,000. Finally, Vestmark Advisory Solutions Inc. lifted its holdings in Conduent by 114.5% in the first quarter. Vestmark Advisory Solutions Inc. now owns 28,014 shares of the company’s stock valued at $76,000 after buying an additional 14,955 shares during the period. Institutional investors and hedge funds own 77.28% of the company’s stock.

Analyst Upgrades and Downgrades

CNDT has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a report on Wednesday, October 8th. Singular Research upgraded Conduent to a “strong-buy” rating in a report on Tuesday, August 19th. Finally, Wall Street Zen lowered Conduent from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Conduent Stock Performance

Shares of Conduent stock opened at $1.94 on Friday. The business has a 50-day simple moving average of $2.36 and a 200 day simple moving average of $2.53. Conduent Inc. has a one year low of $1.72 and a one year high of $4.90. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $295.84 million, a price-to-earnings ratio of -1.97 and a beta of 1.39.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The firm had revenue of $767.00 million during the quarter, compared to analyst estimates of $792.00 million. Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted ($0.14) EPS. Conduent has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.