JPMorgan Chase & Co. Acquires 326,118 Shares of Conduent Incorporated (NASDAQ:CNDT)

JPMorgan Chase & Co. grew its position in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) by 174.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 513,129 shares of the company's stock after purchasing an additional 326,118 shares during the period. JPMorgan Chase & Co. owned approximately 0.32% of Conduent worth $2,068,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of Conduent by 10.0% during the 3rd quarter. Franklin Resources Inc. now owns 118,841 shares of the company's stock valued at $477,000 after purchasing an additional 10,787 shares in the last quarter. Barclays PLC grew its position in shares of Conduent by 233.0% during the 3rd quarter. Barclays PLC now owns 271,923 shares of the company's stock valued at $1,096,000 after purchasing an additional 190,269 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Conduent by 7.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company's stock valued at $635,000 after purchasing an additional 11,464 shares in the last quarter. Jane Street Group LLC grew its position in Conduent by 59.7% in the third quarter. Jane Street Group LLC now owns 833,861 shares of the company's stock worth $3,360,000 after acquiring an additional 311,579 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Conduent by 163.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company's stock worth $6,125,000 after acquiring an additional 942,459 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Price Performance

NASDAQ:CNDT traded down $0.12 during midday trading on Wednesday, hitting $3.99. The company had a trading volume of 686,318 shares, compared to its average volume of 673,894. Conduent Incorporated has a 52-week low of $2.96 and a 52-week high of $4.59. The stock's fifty day moving average price is $4.03 and its 200-day moving average price is $3.86. The company has a market capitalization of $637.96 million, a PE ratio of 1.76 and a beta of 1.44. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $817.33 million. During the same period in the previous year, the business earned ($0.09) earnings per share. The firm's quarterly revenue was down 13.4% compared to the same quarter last year. As a group, research analysts expect that Conduent Incorporated will post -0.45 earnings per share for the current 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.