Royce & Associates LP Trims Stake in Conduent Incorporated (NASDAQ:CNDT)

Royce & Associates LP decreased its position in Conduent Incorporated (NASDAQ:CNDT - Free Report) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,822,467 shares of the company's stock after selling 130,630 shares during the quarter. Royce & Associates LP owned approximately 1.12% of Conduent worth $7,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. US Bancorp DE grew its position in Conduent by 1,484.1% in the 3rd quarter. US Bancorp DE now owns 30,352 shares of the company's stock worth $122,000 after purchasing an additional 28,436 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Conduent by 9.1% during the third quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company's stock worth $2,758,000 after acquiring an additional 57,183 shares during the period. Creative Planning grew its stake in Conduent by 74.2% in the 3rd quarter. Creative Planning now owns 60,843 shares of the company's stock valued at $245,000 after purchasing an additional 25,912 shares during the period. Point72 DIFC Ltd increased its position in shares of Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company's stock valued at $89,000 after purchasing an additional 15,254 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Conduent in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 77.28% of the company's stock.

Conduent Stock Performance

NASDAQ CNDT traded down $0.23 during trading hours on Monday, reaching $3.69. 930,517 shares of the company were exchanged, compared to its average volume of 1,104,845. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $589.99 million, a P/E ratio of 1.73 and a beta of 1.48. The business's 50 day simple moving average is $3.88 and its 200-day simple moving average is $3.68. Conduent Incorporated has a 1 year low of $2.77 and a 1 year high of $4.38.

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