Millennium Management LLC Purchases 340,283 Shares of Conduent Incorporated (NASDAQ:CNDT)

Millennium Management LLC raised its position in Conduent Incorporated (NASDAQ:CNDT - Free Report) by 59.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 912,465 shares of the company's stock after purchasing an additional 340,283 shares during the quarter. Millennium Management LLC owned 0.57% of Conduent worth $3,686,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Picton Mahoney Asset Management raised its position in 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 last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Conduent in the fourth quarter valued at approximately $41,000. SilverOak Wealth Management LLC bought a new stake in shares of Conduent in the fourth quarter worth $53,000. Bailard Inc. bought a new stake in shares of Conduent in the fourth quarter worth $58,000. Finally, Cibc World Markets Corp acquired a new position in Conduent during the fourth quarter worth $60,000. 77.28% of the stock is currently owned by institutional investors.

Conduent Stock Up 1.8%

Conduent stock traded up $0.05 during mid-day trading on Wednesday, reaching $2.50. The company's stock had a trading volume of 211,184 shares, compared to its average volume of 1,161,245. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.75 and a current ratio of 1.68. Conduent Incorporated has a 12 month low of $1.90 and a 12 month high of $4.90. The business's 50 day simple moving average is $2.23 and its 200 day simple moving average is $3.27. The company has a market capitalization of $403.77 million, a price-to-earnings ratio of 1.16 and a beta of 1.54.

Conduent (NASDAQ:CNDT - Get Free Report) last posted 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. The company had revenue of $751.00 million during the quarter, compared to the consensus estimate of $776.00 million. Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. The company's quarterly revenue was down 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. As a group, research analysts anticipate that Conduent Incorporated will post -0.34 earnings per share for the current year.

Insider Activity at Conduent

In other news, EVP Giles Andrew Goodburn purchased 13,798 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average cost of $2.32 per share, with a total value of $32,011.36. Following the completion of the transaction, the executive vice president now owns 331,168 shares of the company's stock, valued at $768,309.76. The trade was a 4.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.