5 Best Tech Stocks to Buy Under $10

3. Conduent Incorporated (NASDAQ:CNDT)

Number of Hedge Fund Holders: 23

Stock Price as of October 2: $6.83

Conduent Incorporated (NASDAQ:CNDT) is a business services provider company based in New Jersey that provides digital platforms for businesses. Ranked third on the list of the 10 best tech stocks to buy under $10, Conduent Incorporated (NASDAQ:CNDT) has a market capitalization of $1.45 billion.

At the end of the second quarter of 2021, 23 hedge funds in the database of Insider Monkey held stakes worth more than $386.8 million in Conduent Incorporated (NASDAQ:CNDT). This is compared to 22 hedge funds in the preceding quarter that held stakes amounting to approximately $361 million.

On August 5, the company released its earnings report for the second quarter of 2021. The declared EPS came in at $0.17, surpassing market predictions by $0.03. The declared revenues were $1.03 billion, missing the consensus estimated revenues by $2.50 million.

On August 17, JPMorgan analyst Puneet Jain raised his price target on Conduent Incorporated (NASDAQ:CNDT)to $9 from $8 and kept a Neutral rating on the shares.

In its Q2 investor letter, Curreen Capital commented on the attractive sales growth and turnaround by Conduent Incorporated (NASDAQ:CNDT). Here is what the fund said:

“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.”