Royce & Associates LP Sells 130,630 Shares of Conduent Incorporated (NASDAQ:CNDT)

Royce & Associates LP lessened its holdings in shares of Conduent Incorporated (NASDAQ:CNDT) by 6.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,822,467 shares of the company’s stock after selling 130,630 shares during the period. Royce & Associates LP’s holdings in Conduent were worth $7,345,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Renaissance Technologies LLC lifted its position in Conduent by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after buying an additional 520,000 shares during the last quarter. Factorial Partners LLC bought a new stake in Conduent in the 2nd quarter worth approximately $3,295,000. Jacobs Levy Equity Management Inc. lifted its position in Conduent by 198.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock worth $2,582,000 after buying an additional 508,012 shares during the last quarter. Creative Planning lifted its position in Conduent by 74.2% in the 3rd quarter. Creative Planning now owns 60,843 shares of the company’s stock worth $245,000 after buying an additional 25,912 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its position in Conduent by 25.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after buying an additional 194,250 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

NASDAQ:CNDT opened at $3.92 on Monday. The business has a 50 day moving average of $3.88 and a 200 day moving average of $3.68. The company has a market capitalization of $626.77 million, a price-to-earnings ratio of 1.73 and a beta of 1.48. Conduent Incorporated has a 1-year low of $2.65 and a 1-year high of $4.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75.

Conduent (NASDAQ:CNDT) last announced 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 business had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts predict that Conduent Incorporated will post -0.45 earnings per share 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.