Royce & Associates LP Reduces Position in Conduent Incorporated (NASDAQ:CNDT)

Royce & Associates LP reduced its position in Conduent Incorporated (NASDAQ:CNDT) by 21.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,436,737 shares of the company’s stock after selling 385,730 shares during the quarter. Royce & Associates LP owned about 0.90% of Conduent worth $5,804,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Picton Mahoney Asset Management grew its holdings in shares of Conduent by 288.7% during the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock worth $35,000 after buying an additional 6,524 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Conduent in the 4th quarter valued at approximately $172,000. Raymond James Financial Inc. purchased a new stake in shares of Conduent during the fourth quarter worth approximately $797,000. Bailard Inc. acquired a new stake in shares of Conduent during the fourth quarter worth $58,000. Finally, SilverOak Wealth Management LLC acquired a new stake in shares of Conduent during the fourth quarter worth $53,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Stock Performance

Shares of CNDT opened at $3.01 on Thursday. Conduent Incorporated has a 1 year low of $2.94 and a 1 year high of $4.90. The stock has a market capitalization of $487.11 million, a P/E ratio of 1.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.75 and a current ratio of 1.68. The company’s fifty day moving average is $3.77 and its two-hundred day moving average is $3.88.

Conduent (NASDAQ:CNDT) last posted 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 negative return on equity of 11.39% and a net margin of 12.69%. On average, sell-side analysts predict that Conduent Incorporated will post -0.34 earnings per share for the current year.

Conduent Company Profile

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.