Arrowstreet Capital Limited Partnership Buys 1,162,068 Shares of Conduent Incorporated (NASDAQ:CNDT)

Arrowstreet Capital Limited Partnership increased its stake in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) by 100.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,317,936 shares of the company's stock after buying an additional 1,162,068 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.45% of Conduent worth $9,364,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CNDT. JPMorgan Chase & Co. grew its position in shares of Conduent by 526.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company's stock valued at $12,997,000 after acquiring an additional 2,703,849 shares during the period. Prudential Financial Inc. lifted its stake in Conduent by 1,011.1% in the fourth quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company's stock valued at $6,086,000 after purchasing an additional 1,370,961 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Conduent during the fourth quarter valued at $114,000. American Century Companies Inc. increased its position in 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 buying an additional 1,437,479 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Conduent in the fourth quarter valued at $162,000. Institutional investors own 77.28% of the company's stock.

Conduent Stock Performance

Shares of NASDAQ CNDT traded down $0.09 during trading on Friday, reaching $2.04. 1,575,579 shares of the stock traded hands, compared to its average volume of 1,132,568. 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 market capitalization of $330.13 million, a P/E ratio of 0.94 and a beta of 1.36. Conduent Incorporated has a 52-week low of $1.99 and a 52-week high of $4.90. The company has a 50-day moving average of $3.24 and a 200-day moving average of $3.72.

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Conduent (NASDAQ:CNDT - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. Analysts forecast 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.