Millennium Management LLC boosted its stake in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) by 59.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 about 0.57% of Conduent worth $3,686,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its position in Conduent by 526.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company's stock worth $12,997,000 after acquiring an additional 2,703,849 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Conduent in the fourth quarter valued at about $797,000. American Century Companies Inc. increased its stake in shares of Conduent by 156.8% in the fourth quarter. American Century Companies Inc. now owns 2,354,300 shares of the company's stock worth $9,511,000 after purchasing an additional 1,437,479 shares during the period. Renaissance Technologies LLC lifted its position in shares of Conduent by 10.0% during the 4th quarter. Renaissance Technologies LLC now owns 2,510,399 shares of the company's stock worth $10,142,000 after purchasing an additional 227,899 shares during the last quarter. Finally, Blue Owl Capital Holdings LP lifted its position in shares of Conduent by 67.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 5,625,459 shares of the company's stock worth $22,727,000 after purchasing an additional 2,262,437 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company's stock.
Insider Transactions at Conduent
In related news, EVP Giles Andrew Goodburn acquired 13,798 shares of the stock in a transaction dated 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 purchase, the executive vice president now owns 331,168 shares in the company, valued at approximately $768,309.76. This trade represents a 4.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.98% of the stock is owned by insiders.
Conduent Stock Performance
Shares of CNDT stock traded up $0.03 during trading hours on Wednesday, reaching $2.48. 1,292,574 shares of the company's stock were exchanged, compared to its average volume of 1,164,485. Conduent Incorporated has a fifty-two week low of $1.90 and a fifty-two week high of $4.90. The company has a quick ratio of 1.75, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $401.34 million, a P/E ratio of 1.15 and a beta of 1.54. The business has a fifty day moving average price of $2.23 and a 200-day moving average price of $3.27.
Conduent (NASDAQ:CNDT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. The firm had revenue of $751.00 million during the quarter, compared to analysts' expectations of $776.00 million. During the same period in the prior year, the company earned $0.46 EPS. The business's quarterly revenue was down 18.5% compared to the same quarter last year. Analysts predict that Conduent Incorporated will post -0.34 EPS for the current fiscal year.
Conduent Profile
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Free Report)
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.
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