Principal Financial Group Inc. Sells 4,589 Shares of Conduent Incorporated (NASDAQ:CNDT)

Principal Financial Group Inc. reduced its stake in shares of Conduent Incorporated (NASDAQ:CNDT) by 29.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,226 shares of the company’s stock after selling 4,589 shares during the quarter. Principal Financial Group Inc.’s holdings in Conduent were worth $45,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Factorial Partners LLC purchased a new stake in Conduent in the 2nd quarter worth $3,295,000. Ancora Advisors LLC purchased a new stake in shares of Conduent in the first quarter worth about $1,957,000. Renaissance Technologies LLC boosted its stake in Conduent by 27.7% during the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after buying an additional 520,000 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Conduent by 198.5% during 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 in the last quarter. Finally, Panagora Asset Management Inc. increased its stake 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 acquiring an additional 194,250 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Conduent stock opened at $3.83 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. Conduent Incorporated has a twelve month low of $2.95 and a twelve month high of $4.38. The company’s 50-day moving average price is $3.87 and its 200-day moving average price is $3.67. The company has a market cap of $612.38 million, a PE ratio of 1.69 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million for 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%. Conduent’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. On average, equities research analysts forecast that Conduent Incorporated will post -0.45 EPS for the current fiscal 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.