D. E. Shaw & Co. Inc. Cuts Stock Position in Conduent Incorporated (NASDAQ:CNDT)

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

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. William Blair Investment Management LLC increased its stake in Conduent by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 6,345,652 shares of the company's stock worth $25,636,000 after purchasing an additional 154,953 shares during the period. Blue Owl Capital Holdings LP grew its position in shares of Conduent by 67.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 5,625,459 shares of the company's stock worth $22,727,000 after buying an additional 2,262,437 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Conduent by 526.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company's stock worth $12,997,000 after buying an additional 2,703,849 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Conduent by 10.0% during the fourth quarter. Renaissance Technologies LLC now owns 2,510,399 shares of the company's stock worth $10,142,000 after buying an additional 227,899 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Conduent by 156.8% during the fourth quarter. American Century Companies Inc. now owns 2,354,300 shares of the company's stock worth $9,511,000 after buying an additional 1,437,479 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Stock Up 0.9%

Shares of Conduent stock traded up $0.02 on Friday, reaching $2.25. 1,746,675 shares of the company were exchanged, compared to its average volume of 1,150,347. Conduent Incorporated has a 1-year low of $1.90 and a 1-year high of $4.90. The company has a market cap of $364.12 million, a P/E ratio of 1.04 and a beta of 1.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The stock's 50 day moving average price is $2.42 and its 200-day moving average price is $3.41.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. Conduent had a negative return on equity of 11.39% and a net margin of 12.69%. The business had revenue of $751.00 million during the quarter, compared to the consensus estimate of $776.00 million. During the same period in the previous year, the company posted $0.46 earnings per share. The business's revenue for the quarter was down 18.5% on a year-over-year basis. As a group, equities analysts forecast 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 stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $2.32 per share, with a total value of $32,011.36. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.98% of the company's stock.

Conduent 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.