Paradigm Capital Management Inc. NY Sells 30,000 Shares of Conduent Incorporated (NASDAQ:CNDT)

Paradigm Capital Management Inc. NY reduced its position in shares of Conduent Incorporated (NASDAQ:CNDT) by 23.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after selling 30,000 shares during the period. Paradigm Capital Management Inc. NY’s holdings in Conduent were worth $326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Conduent during the first quarter valued at about $724,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Conduent during the 1st quarter worth about $276,000. Factorial Partners LLC bought a new stake in Conduent during the 2nd quarter valued at approximately $3,295,000. Jacobs Levy Equity Management Inc. grew its holdings in Conduent by 198.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock valued at $2,582,000 after buying an additional 508,012 shares during the last quarter. Finally, Panagora Asset Management Inc. increased 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 period. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Conduent Stock Up 1.9 %

Shares of CNDT opened at $3.82 on Tuesday. 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 company has a 50-day simple moving average of $3.71 and a 200-day simple moving average of $3.49. Conduent Incorporated has a 52 week low of $2.40 and a 52 week high of $4.20. The firm has a market capitalization of $781.51 million, a P/E ratio of -4.24 and a beta of 1.46.

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