Geode Capital Management LLC Sells 116,155 Shares of Conduent Incorporated (NASDAQ:CNDT)

Geode Capital Management LLC trimmed its holdings in Conduent Incorporated (NASDAQ:CNDT) by 3.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,808,776 shares of the company’s stock after selling 116,155 shares during the quarter. Geode Capital Management LLC owned 2.38% of Conduent worth $15,352,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in CNDT. Algert Global LLC purchased a new stake in Conduent during the 2nd quarter valued at $52,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Conduent during the second quarter worth about $80,000. Point72 DIFC Ltd grew its stake in shares of Conduent by 127.9% in the second quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after purchasing an additional 15,254 shares during the last quarter. Paloma Partners Management Co purchased a new position in Conduent during the 3rd quarter valued at about $100,000. Finally, Headlands Technologies LLC raised its position in Conduent by 140.0% during the 2nd quarter. Headlands Technologies LLC now owns 34,476 shares of the company’s stock valued at $112,000 after purchasing an additional 20,110 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Shares of CNDT opened at $4.08 on Monday. Conduent Incorporated has a one year low of $2.96 and a one year high of $4.59. The company has a 50-day simple moving average of $3.97 and a two-hundred day simple moving average of $3.76. 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 capitalization of $652.35 million, a PE ratio of 1.80 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $807.00 million during 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 firm’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.09) EPS. On average, analysts anticipate that Conduent Incorporated will post -0.45 EPS 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.