JB Capital Partners LP Buys Shares of 1,113,061 Conduent Inc. $CNDT

JB Capital Partners LP bought a new position in shares of Conduent Inc. (NASDAQ:CNDT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,113,061 shares of the company’s stock, valued at approximately $1,625,069,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CNDT. BlackRock Inc. acquired a new stake in shares of Conduent in the second quarter valued at about $20,194,000. Blue Owl Capital Holdings LP acquired a new position in Conduent during the second quarter worth about $7,353,000. Charles Schwab Investment Management Inc. grew its position in Conduent by 35.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,116,277 shares of the company’s stock worth $13,663,000 after buying an additional 1,854,266 shares during the period. Miller Value Partners LLC increased its holdings in Conduent by 38.5% in the fourth quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock valued at $10,720,000 after buying an additional 1,552,560 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Conduent by 136.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,750,748 shares of the company’s stock valued at $4,622,000 after acquiring an additional 1,010,373 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

Conduent Stock Performance

Shares of CNDT opened at $1.61 on Friday. Conduent Inc. has a 12-month low of $1.15 and a 12-month high of $2.98. The stock has a market cap of $250.39 million, a P/E ratio of -1.06 and a beta of 1.44. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average of $1.52 and a two-hundred day moving average of $1.50.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. The business had revenue of $531.00 million during the quarter, compared to analyst estimates of $702.00 million. As a group, research analysts predict that Conduent Inc. will post -0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on CNDT. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Friday, July 17th. Zacks Research cut Conduent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Noble Financial upgraded Conduent to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered Conduent from a “hold” rating to a “strong sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold”.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.