Monolith Management Ltd Invests $760,000 in Conduent Incorporated (NASDAQ:CNDT)

Monolith Management Ltd purchased a new position in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 188,000 shares of the company's stock, valued at approximately $760,000. Conduent accounts for approximately 0.4% of Monolith Management Ltd's investment portfolio, making the stock its 23rd largest position. Monolith Management Ltd owned 0.12% of Conduent as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNDT. JPMorgan Chase & Co. grew its holdings in Conduent by 526.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company's stock worth $12,997,000 after purchasing an additional 2,703,849 shares during the period. Blue Owl Capital Holdings LP grew its holdings in Conduent by 67.3% during the fourth 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 period. American Century Companies Inc. grew its holdings in Conduent by 156.8% during 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. Prudential Financial Inc. grew its holdings in Conduent by 1,011.1% during the fourth quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company's stock worth $6,086,000 after purchasing an additional 1,370,961 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings 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. Institutional investors own 77.28% of the company's stock.

Conduent Stock Performance

Shares of NASDAQ:CNDT traded down $0.02 during trading on Monday, reaching $2.13. 660,368 shares of the stock were exchanged, compared to its average volume of 1,150,792. Conduent Incorporated has a 12 month low of $1.93 and a 12 month high of $4.90. The stock has a 50-day moving average price of $2.82 and a 200-day moving average price of $3.58. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73. The firm has a market cap of $344.70 million, a PE ratio of 0.99 and a beta of 1.36.

Conduent (NASDAQ:CNDT - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share (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%. Research analysts expect that Conduent Incorporated will post -0.34 EPS for the current fiscal 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.