Oppenheimer Asset Management Inc. Takes $80,000 Position in Conduent Incorporated (NASDAQ:CNDT)

Oppenheimer Asset Management Inc. acquired a new stake in shares of Conduent Incorporated (NASDAQ:CNDT) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,593 shares of the company’s stock, valued at approximately $80,000.

Several other institutional investors have also recently made changes to their positions in CNDT. Charles Schwab Investment Management Inc. raised its holdings in shares of Conduent by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,979,612 shares of the company’s stock valued at $14,526,000 after purchasing an additional 165,969 shares during the period. Aigen Investment Management LP bought a new stake in shares of Conduent during the fourth quarter worth about $63,000. Allianz Asset Management GmbH increased its position in shares of Conduent by 14.8% during the fourth quarter. Allianz Asset Management GmbH now owns 1,143,039 shares of the company’s stock worth $4,172,000 after acquiring an additional 147,244 shares in the last quarter. Pingora Partners LLC bought a new stake in shares of Conduent during the fourth quarter worth about $234,000. Finally, JB Capital Partners LP increased its position in shares of Conduent by 540.0% during the fourth quarter. JB Capital Partners LP now owns 800,000 shares of the company’s stock worth $2,920,000 after acquiring an additional 675,000 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Trading Down 4.1 %

NASDAQ:CNDT opened at $3.75 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a 50-day moving average of $3.71 and a 200-day moving average of $3.49. The company has a market cap of $767.19 million, a PE ratio of -4.17 and a beta of 1.46. Conduent Incorporated has a one year low of $2.40 and a one year high of $4.20.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The business had revenue of $811.00 million during the quarter, compared to the consensus estimate of $803.33 million. During the same period in the prior year, the firm posted $0.01 EPS. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Conduent Incorporated will post -0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Conduent from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th.

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.