Two Sigma Advisers LP boosted its holdings in shares of Conduent Inc (NYSE:CNDT) by 191.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,667,300 shares of the company’s stock after acquiring an additional 1,752,570 shares during the period. Two Sigma Advisers LP owned 1.27% of Conduent worth $43,104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in Conduent by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after purchasing an additional 527 shares during the last quarter. First Allied Advisory Services Inc. acquired a new position in Conduent in the 3rd quarter valued at about $149,000. Financial Consulate Inc. acquired a new position in Conduent in the 4th quarter valued at about $181,000. State of Alaska Department of Revenue acquired a new position in Conduent in the 4th quarter valued at about $215,000. Finally, Yellowstone Partners LLC acquired a new position in Conduent in the 3rd quarter valued at about $228,000. 93.15% of the stock is owned by institutional investors.
Conduent Inc (NYSE CNDT) opened at $19.63 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. Conduent Inc has a fifty-two week low of $14.95 and a fifty-two week high of $20.32. The company has a market cap of $4,127.30, a P/E ratio of 23.94 and a beta of -1.08.
Several equities analysts have weighed in on the stock. Susquehanna Bancshares assumed coverage on shares of Conduent in a report on Wednesday, March 7th. They issued a “positive” rating and a $23.00 target price on the stock. Needham & Company LLC upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, March 6th. SunTrust Banks reiterated a “buy” rating and issued a $22.00 target price on shares of Conduent in a report on Friday, February 23rd. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, February 23rd. Finally, Cowen reiterated a “hold” rating on shares of Conduent in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $21.50.
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Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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