D. E. Shaw & Co. Inc. Sells 654,225 Shares of Conduent Incorporated (NASDAQ:CNDT)

D. E. Shaw & Co. Inc. lessened its stake in Conduent Incorporated (NASDAQ:CNDT - Free Report) by 21.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,455,752 shares of the company's stock after selling 654,225 shares during the quarter. D. E. Shaw & Co. Inc. owned about 1.54% of Conduent worth $9,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its stake in shares of Conduent by 288.7% in the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company's stock valued at $35,000 after buying an additional 6,524 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Conduent in the 4th quarter valued at about $41,000. SilverOak Wealth Management LLC bought a new position in shares of Conduent in the 4th quarter valued at about $53,000. Bailard Inc. acquired a new stake in shares of Conduent during the 4th quarter worth approximately $58,000. Finally, Cibc World Markets Corp bought a new stake in shares of Conduent during the fourth quarter worth approximately $60,000. Institutional investors and hedge funds own 77.28% of the company's stock.

Conduent Trading Up 3.8%

CNDT stock traded up $0.09 during midday trading on Tuesday, reaching $2.31. The company's stock had a trading volume of 350,674 shares, compared to its average volume of 1,145,635. The business's 50-day simple moving average is $2.40 and its 200-day simple moving average is $3.40. The company has a quick ratio of 1.75, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. Conduent Incorporated has a 52 week low of $1.90 and a 52 week high of $4.90. The stock has a market cap of $373.02 million, a PE ratio of 1.07 and a beta of 1.52.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $751.00 million during the quarter, compared to analysts' expectations of $776.00 million. Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. The firm's revenue was down 18.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. As a group, sell-side analysts expect that Conduent Incorporated will post -0.34 EPS for the current year.

Insider Transactions at Conduent

In other Conduent news, EVP Giles Andrew Goodburn purchased 13,798 shares of the business's stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $2.32 per share, with a total value of $32,011.36. Following the acquisition, the executive vice president now directly owns 331,168 shares of the company's stock, valued at $768,309.76. This trade represents a 4.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.98% of the company's stock.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.