Public Employees Retirement System of Ohio Has $1.18 Million Position in Conduent Inc (CNDT)

Public Employees Retirement System of Ohio decreased its holdings in Conduent Inc (NYSE:CNDT) by 5.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,079 shares of the company’s stock after selling 4,003 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Conduent were worth $1,182,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CNDT. Point72 Hong Kong Ltd lifted its holdings in Conduent by 170.1% in the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock valued at $109,000 after buying an additional 3,777 shares during the period. SG Americas Securities LLC acquired a new position in Conduent in the second quarter valued at $142,000. BNP Paribas Arbitrage SA lifted its holdings in Conduent by 416.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after buying an additional 6,427 shares during the period. US Bancorp DE lifted its holdings in Conduent by 67.1% in the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after buying an additional 3,366 shares during the period. Finally, Signition LP acquired a new position in Conduent in the second quarter valued at $198,000. 93.62% of the stock is currently owned by institutional investors.

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In other news, President David Amoriell sold 33,903 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $21.30, for a total transaction of $722,133.90. Following the transaction, the president now owns 83,888 shares in the company, valued at $1,786,814.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Several research firms recently issued reports on CNDT. Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday. BMO Capital Markets boosted their target price on shares of Conduent from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Finally, JPMorgan Chase & Co. upgraded shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.00.

Shares of NYSE CNDT opened at $19.90 on Friday. Conduent Inc has a 1-year low of $14.95 and a 1-year high of $23.39. The stock has a market cap of $4.76 billion, a PE ratio of 23.41 and a beta of -0.03. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.57.

Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.07. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities analysts anticipate that Conduent Inc will post 1.15 EPS for the current year.

About Conduent

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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