Teacher Retirement System of Texas Sells 205,717 Shares of Conduent Inc. (NASDAQ:CNDT)

Teacher Retirement System of Texas cut its stake in Conduent Inc. (NASDAQ:CNDT - Free Report) by 36.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 363,178 shares of the company's stock after selling 205,717 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.22% of Conduent worth $981,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Conduent during the fourth quarter worth about $797,000. Picton Mahoney Asset Management increased its position in Conduent by 288.7% during the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company's stock worth $35,000 after acquiring an additional 6,524 shares during the period. Cibc World Markets Corp bought a new position in Conduent during the fourth quarter worth about $60,000. Counterpoint Mutual Funds LLC increased its position in Conduent by 30.7% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 179,464 shares of the company's stock worth $725,000 after acquiring an additional 42,178 shares during the period. Finally, William Blair Investment Management LLC increased its position 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 acquiring an additional 154,953 shares during the period. 77.28% of the stock is owned by institutional investors.

Conduent Price Performance

CNDT stock opened at $2.67 on Monday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. Conduent Inc. has a 12 month low of $1.90 and a 12 month high of $4.90. The firm has a market cap of $432.09 million, a P/E ratio of 1.95 and a beta of 1.57. The company's 50-day moving average price is $2.49 and its two-hundred day moving average price is $3.00.

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 8.66% and a negative return on equity of 11.28%. The firm had revenue of $751.00 million for the quarter, compared to analyst estimates of $776.00 million. During the same period last year, the firm earned $0.46 EPS. The business's quarterly revenue was down 18.5% compared to the same quarter last year. On average, analysts anticipate that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Harshavardhan V. Agadi purchased 100,000 shares of Conduent stock in a transaction dated Wednesday, June 18th. The shares were bought at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the purchase, the director owned 100,000 shares in the company, valued at approximately $281,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Giles Andrew Goodburn purchased 13,798 shares of Conduent stock in a transaction dated Monday, May 12th. The stock was bought at an average price of $2.32 per share, for a total transaction of $32,011.36. Following the completion of the purchase, the executive vice president owned 331,168 shares in the company, valued at $768,309.76. This represents a 4.35% increase in their position. The disclosure for this purchase can be found here. Company 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.

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