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Is It Too Late to Buy Conduent (CNDT) Stock?

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·3 min read
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Curreen Capital recently released its Q1 2021 Investor Letter, a copy of which you can download here. The fund posted a return of 36.7% for the quarter, outperforming their benchmark, the S&P 500 Index which returned 6.17% in the same quarter. You should check out Curreen Capital's top 5 stock picks for investors to buy right now, which could be the biggest winners of this year.

In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Conduent Inc (NASDAQ:CNDT) is one of them. Conduent Inc (NASDAQ:CNDT) is a business process services company. In the last three months, Conduent Inc (NASDAQ:CNDT) stock gained 25%. Curreen Capital cared to mention Conduent Inc (NASDAQ:CNDT) in its investor letter, though they didn’t say why they really like the stock. All they said is this:

"Conduent is a business process services company. It handles transaction intensive processing for government and commercial customers. After years of weak sales, declining profits, conflict with its largest shareholder (Carl Icahn), and the loss of its CEO – the company is turning around. Conduent’s new CEO is addressing the company’s key problems and is driving sales growth. Conduent currently trades at an extremely attractive upside-to-downside ratio."

Best Job Search Websites of 2021
Best Job Search Websites of 2021

Photo by Shridhar Gupta on Unsplash

Curreen Capital has been a long time Conduent Inc (NASDAQ:CNDT) bull. In October 2020, we shared Curreen Capital CNDT’s thesis in this article.

In Q3 2020, the number of bullish hedge fund positions on Conduent Inc (NASDAQ:CNDT) stock decreased by about 24% from the previous quarter (see the chart here), so a number of other hedge fund managers don't believe in CNDT's growth potential. Our calculations showed that Conduent Inc (NASDAQ:CNDT) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, lithium mining is one of the fastest growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best hydrogen fuel cell stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage:

Disclosure: None. This article is originally published at Insider Monkey.