Conduent Incorporated (NASDAQ:CNDT) Stock Holdings Boosted by Panagora Asset Management Inc.

Panagora Asset Management Inc. boosted its position in Conduent Incorporated (NASDAQ:CNDT - Free Report) by 25.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 970,758 shares of the company's stock after purchasing an additional 194,250 shares during the period. Panagora Asset Management Inc. owned about 0.47% of Conduent worth $3,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new position in shares of Conduent during the 1st quarter worth $724,000. Assenagon Asset Management S.A. grew its position in Conduent by 68.1% during the first quarter. Assenagon Asset Management S.A. now owns 765,800 shares of the company's stock worth $2,588,000 after buying an additional 310,299 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Conduent in the first quarter valued at about $276,000. Jacobs Levy Equity Management Inc. lifted its position in shares of Conduent by 198.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company's stock valued at $2,582,000 after acquiring an additional 508,012 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Conduent by 49.0% during the 1st quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company's stock worth $485,000 after acquiring an additional 47,176 shares in the last quarter. Hedge funds and other institutional investors own 77.28% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Conduent from a "buy" rating to a "hold" rating in a research note on Tuesday, May 28th.

Conduent Price Performance

Shares of NASDAQ:CNDT traded down $0.04 during midday trading on Friday, hitting $3.82. 680,430 shares of the stock were exchanged, compared to its average volume of 1,106,523. Conduent Incorporated has a twelve month low of $2.40 and a twelve month high of $4.20. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.54. The company has a 50 day moving average price of $3.57 and a 200-day moving average price of $3.46. The stock has a market cap of $781.51 million, a P/E ratio of -4.24 and a beta of 1.51.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. The company had revenue of $811.00 million during the quarter, compared to analysts' expectations of $803.33 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.50%. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. On average, research analysts forecast that Conduent Incorporated will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Conduent news, major shareholder Carl C. Icahn sold 38,149,336 shares of the stock in a transaction on Saturday, June 8th. The stock was sold at an average price of $3.47, for a total transaction of $132,378,195.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.84% of the company's stock.

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.