Conduent Incorporated (NASDAQ:CNDT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Conduent Incorporated (NASDAQ:CNDT) by 29.0% during the 3rd quarter, according to its most recent disclosure 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 period. Principal Financial Group Inc.’s holdings in Conduent were worth $45,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNDT. ClariVest Asset Management LLC lifted its stake in Conduent by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after buying an additional 5,464 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Conduent by 10.0% in the third quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock valued at $477,000 after acquiring an additional 10,787 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Conduent by 7.8% during the third quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after acquiring an additional 11,464 shares during the last quarter. Point72 DIFC Ltd increased its position in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after purchasing an additional 15,254 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in Conduent during the 2nd quarter worth about $52,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Performance

NASDAQ:CNDT opened at $3.95 on Wednesday. The firm has a 50 day simple moving average of $4.01 and a 200-day simple moving average of $3.81. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $631.57 million, a PE ratio of 1.74 and a beta of 1.44. Conduent Incorporated has a 1-year low of $2.96 and a 1-year high of $4.59.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, equities analysts expect that Conduent Incorporated will post -0.45 EPS 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.