Jane Street Group LLC Trims Stake in Conduent Incorporated (NASDAQ:CNDT)

Jane Street Group LLC lessened its stake in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) by 60.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 328,996 shares of the company's stock after selling 504,865 shares during the period. Jane Street Group LLC owned 0.21% of Conduent worth $1,329,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Northern Trust Corp boosted its stake in shares of Conduent by 5.3% in the fourth quarter. Northern Trust Corp now owns 1,515,776 shares of the company's stock worth $6,124,000 after acquiring an additional 76,021 shares during the period. Aquatic Capital Management LLC boosted its stake in shares of Conduent by 67.9% in the fourth quarter. Aquatic Capital Management LLC now owns 50,976 shares of the company's stock worth $206,000 after acquiring an additional 20,616 shares during the period. Oxford Asset Management LLP bought a new position in shares of Conduent in the fourth quarter worth about $114,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Conduent in the fourth quarter worth about $628,000. Finally, Miller Value Partners LLC boosted its stake in shares of Conduent by 72.0% in the fourth quarter. Miller Value Partners LLC now owns 1,549,260 shares of the company's stock worth $6,259,000 after acquiring an additional 648,325 shares during the period. Institutional investors own 77.28% of the company's stock.

Insider Transactions at Conduent

In other news, EVP Giles Andrew Goodburn acquired 13,798 shares of Conduent stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $2.32 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.98% of the company's stock.

Conduent Price Performance

Shares of NASDAQ CNDT traded up $0.13 during mid-day trading on Thursday, reaching $2.38. The company's stock had a trading volume of 1,886,953 shares, compared to its average volume of 1,155,448. The firm has a market capitalization of $385.16 million, a PE ratio of 1.10 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 has a fifty day moving average of $2.37 and a two-hundred day moving average of $3.39. Conduent Incorporated has a 52 week low of $1.90 and a 52 week high of $4.90.

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

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.