Conduent (NASDAQ:CNDT) Sees Large Volume Increase

Conduent Incorporated (NASDAQ:CNDT) saw an uptick in trading volume on Friday . 1,886,893 shares traded hands during trading, an increase of 73% from the previous session’s volume of 1,089,065 shares.The stock last traded at $3.00 and had previously closed at $3.09.

Analysts Set New Price Targets

CNDT has been the subject of a number of recent research reports. StockNews.com cut Conduent from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Noble Financial began coverage on shares of Conduent in a research note on Thursday, March 14th. They set an “outperform” rating and a $9.00 price target on the stock.

Conduent Price Performance

The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.87 and a current ratio of 1.87. The company has a market cap of $626.01 million, a P/E ratio of -3.40 and a beta of 1.53. The firm’s fifty day moving average is $3.43 and its two-hundred day moving average is $3.44.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.06. Conduent had a negative return on equity of 2.50% and a negative net margin of 5.13%. The company had revenue of $921.00 million for the quarter, compared to the consensus estimate of $896.00 million. As a group, analysts anticipate that Conduent Incorporated will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Conduent

In other Conduent news, major shareholder Carl C. Icahn sold 38,149,336 shares of Conduent stock in a transaction that occurred on Saturday, June 8th. The stock was sold at an average price of $3.47, for a total value of $132,378,195.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNDT. Guardian Capital LP bought a new stake in Conduent during the 1st quarter valued at about $34,000. Dynamic Advisor Solutions LLC purchased a new position in Conduent in the 4th quarter worth $36,000. NewEdge Wealth LLC acquired a new stake in shares of Conduent during the fourth quarter worth about $48,000. Vestmark Advisory Solutions Inc. acquired a new stake in Conduent during the 4th quarter valued at approximately $48,000. Finally, Headlands Technologies LLC lifted its position in Conduent by 1,084.3% during the first quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock valued at $49,000 after purchasing an additional 13,153 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

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.