Cubist Systematic Strategies LLC Trims Stock Position in Conduent Incorporated (NASDAQ:CNDT)

Cubist Systematic Strategies LLC lowered its holdings in Conduent Incorporated (NASDAQ:CNDT - Free Report) by 67.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,959 shares of the company's stock after selling 415,173 shares during the period. Cubist Systematic Strategies LLC owned about 0.10% of Conduent worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNDT. Renaissance Technologies LLC increased its position in shares of Conduent by 27.7% in the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company's stock valued at $7,804,000 after acquiring an additional 520,000 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Conduent by 14.8% in the fourth quarter. Allianz Asset Management GmbH now owns 1,143,039 shares of the company's stock valued at $4,172,000 after buying an additional 147,244 shares in the last quarter. Factorial Partners LLC bought a new stake in Conduent during the second quarter worth $3,295,000. Panagora Asset Management Inc. lifted its stake in Conduent by 25.0% in the second quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company's stock valued at $3,165,000 after acquiring an additional 194,250 shares during the last quarter. Finally, Redwood Investment Management LLC increased its stake in shares of Conduent by 9.9% during the 1st quarter. Redwood Investment Management LLC now owns 955,116 shares of the company's stock worth $3,228,000 after purchasing an additional 85,843 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Performance

NASDAQ:CNDT traded up $0.13 during mid-day trading on Friday, hitting $4.02. The stock had a trading volume of 668,139 shares, compared to its average volume of 1,110,061. Conduent Incorporated has a twelve month low of $2.40 and a twelve month high of $4.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a market cap of $822.42 million, a price-to-earnings ratio of -4.47 and a beta of 1.47. The company's 50 day simple moving average is $3.69 and its 200 day simple moving average is $3.52.

Conduent (NASDAQ:CNDT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $811.00 million during the quarter, compared to analysts' expectations of $803.33 million. Conduent had a negative return on equity of 7.81% and a net margin of 0.88%. The firm's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. On average, equities research analysts forecast that Conduent Incorporated will post -0.53 earnings per share 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.