Rhumbline Advisers Cuts Stake in Conduent Incorporated (NASDAQ:CNDT)

Rhumbline Advisers decreased its holdings in Conduent Incorporated (NASDAQ:CNDT) by 3.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 273,253 shares of the company’s stock after selling 9,787 shares during the period. Rhumbline Advisers owned approximately 0.13% of Conduent worth $891,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CNDT. Charles Schwab Investment Management Inc. raised its holdings in Conduent by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,979,612 shares of the company’s stock valued at $14,526,000 after buying an additional 165,969 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Conduent by 14.8% during the 4th 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 during the last quarter. Panagora Asset Management Inc. raised its holdings in Conduent by 25.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock valued at $3,165,000 after buying an additional 194,250 shares during the last quarter. Redwood Investment Management LLC raised its holdings in Conduent by 9.9% during the 1st quarter. Redwood Investment Management LLC now owns 955,116 shares of the company’s stock valued at $3,228,000 after buying an additional 85,843 shares during the last quarter. Finally, JB Capital Partners LP raised its holdings in Conduent by 540.0% during the 4th quarter. JB Capital Partners LP now owns 800,000 shares of the company’s stock valued at $2,920,000 after buying an additional 675,000 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Stock Up 1.9 %

Shares of NASDAQ CNDT opened at $3.82 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.05. Conduent Incorporated has a 12 month low of $2.40 and a 12 month high of $4.20. The firm has a market capitalization of $781.51 million, a PE ratio of -4.24 and a beta of 1.46. The firm has a fifty day simple moving average of $3.71 and a two-hundred day simple moving average of $3.49.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The business had revenue of $811.00 million during the quarter, compared to analyst estimates of $803.33 million. During the same period in the prior year, the business earned $0.01 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Equities analysts expect that Conduent Incorporated will post -0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.