Point72 DIFC Ltd Buys 15,254 Shares of Conduent Incorporated (NASDAQ:CNDT)

Point72 DIFC Ltd grew its position in shares of Conduent Incorporated (NASDAQ:CNDT) by 127.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,185 shares of the company’s stock after purchasing an additional 15,254 shares during the quarter. Point72 DIFC Ltd’s holdings in Conduent were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in Conduent in the first quarter worth approximately $724,000. Susquehanna Fundamental Investments LLC acquired a new stake in Conduent in the 1st quarter valued at $276,000. Factorial Partners LLC bought a new stake in Conduent during the 2nd quarter valued at $3,295,000. Jacobs Levy Equity Management Inc. raised its holdings in Conduent by 198.5% during the first 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. Finally, Renaissance Technologies LLC lifted its stake in shares of Conduent by 27.7% in 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 in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Trading Down 2.7 %

CNDT opened at $3.92 on Wednesday. Conduent Incorporated has a fifty-two week low of $2.40 and a fifty-two week high of $4.20. The firm has a market capitalization of $801.97 million, a PE ratio of -4.36 and a beta of 1.46. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65. The company’s 50-day moving average is $3.69 and its 200 day moving average is $3.52.

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

Conduent 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.