Teacher Retirement System of Texas Buys 153,606 Shares of Conduent Incorporated (NASDAQ:CNDT)

Teacher Retirement System of Texas grew its stake in Conduent Incorporated (NASDAQ:CNDT) by 37.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 568,895 shares of the company’s stock after acquiring an additional 153,606 shares during the quarter. Teacher Retirement System of Texas’ holdings in Conduent were worth $2,298,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CNDT. Picton Mahoney Asset Management grew its holdings in Conduent by 288.7% during the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after purchasing an additional 6,524 shares during the period. SilverOak Wealth Management LLC acquired a new position in shares of Conduent in the 4th quarter valued at $53,000. Bailard Inc. bought a new stake in shares of Conduent in the 4th quarter valued at $58,000. Cibc World Markets Corp acquired a new stake in Conduent during the 4th quarter worth $60,000. Finally, Paloma Partners Management Co bought a new position in Conduent during the third quarter worth about $100,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Down 1.4 %

NASDAQ:CNDT opened at $2.90 on Thursday. The stock has a market cap of $469.31 million, a price-to-earnings ratio of 1.34 and a beta of 1.36. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $3.67 and a two-hundred day moving average price of $3.85. Conduent Incorporated has a 1 year low of $2.87 and a 1 year high of $4.90.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Conduent had a negative return on equity of 11.39% and a net margin of 12.69%. As a group, equities analysts expect that Conduent Incorporated will post -0.34 earnings per share for the current 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.