Millennium Management LLC Has $3.69 Million Stake in Conduent Incorporated (NASDAQ:CNDT)

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

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.