ExodusPoint Capital Management LP Cuts Stake in Conduent Incorporated (NASDAQ:CNDT)

ExodusPoint Capital Management LP cut its holdings in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) by 46.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,424 shares of the company's stock after selling 214,507 shares during the quarter. ExodusPoint Capital Management LP owned about 0.16% of Conduent worth $1,008,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. O Shaughnessy Asset Management LLC purchased a new stake in Conduent in the 4th quarter valued at $1,079,000. Arrowstreet Capital Limited Partnership raised its stake in Conduent by 100.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,317,936 shares of the company's stock worth $9,364,000 after purchasing an additional 1,162,068 shares during the period. JPMorgan Chase & Co. boosted its holdings in Conduent by 526.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company's stock valued at $12,997,000 after purchasing an additional 2,703,849 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Conduent by 1,011.1% in the 4th quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company's stock valued at $6,086,000 after buying an additional 1,370,961 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Conduent during the 4th quarter valued at approximately $114,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Trading Down 1.2 %

Conduent stock traded down $0.03 during mid-day trading on Wednesday, hitting $2.04. The company's stock had a trading volume of 121,291 shares, compared to its average volume of 1,046,303. Conduent Incorporated has a 1 year low of $1.98 and a 1 year high of $4.90. The stock's fifty day moving average is $3.17 and its two-hundred day moving average is $3.69. The firm has a market capitalization of $329.32 million, a PE ratio of 0.94 and a beta of 1.36. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73.

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Conduent (NASDAQ:CNDT - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a negative return on equity of 11.39% and a net margin of 12.69%. On average, analysts anticipate that Conduent Incorporated will post -0.34 EPS for the current year.

About Conduent

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.