Cubist Systematic Strategies LLC Decreases Stock Position in Conduent Incorporated (NASDAQ:CNDT)

Cubist Systematic Strategies LLC trimmed its holdings in shares of Conduent Incorporated (NASDAQ:CNDT) by 67.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 195,959 shares of the company’s stock after selling 415,173 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Conduent were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CNDT. Algert Global LLC purchased a new stake in Conduent in the 2nd quarter worth about $52,000. Mackenzie Financial Corp boosted its stake in shares of Conduent by 642.8% during the second quarter. Mackenzie Financial Corp now owns 82,852 shares of the company’s stock valued at $270,000 after purchasing an additional 71,698 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Conduent by 18.3% during the second quarter. AQR Capital Management LLC now owns 134,256 shares of the company’s stock valued at $438,000 after purchasing an additional 20,735 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Conduent by 266.7% during the second quarter. Squarepoint Ops LLC now owns 128,068 shares of the company’s stock valued at $418,000 after purchasing an additional 93,143 shares in the last quarter. Finally, Point72 DIFC Ltd lifted its position in Conduent by 127.9% during the second quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock valued at $89,000 after acquiring an additional 15,254 shares during the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Trading Up 1.8 %

NASDAQ CNDT opened at $4.05 on Friday. The company has a fifty day simple moving average of $3.69 and a two-hundred day simple moving average of $3.56. The stock has a market cap of $657.72 million, a P/E ratio of 19.29 and a beta of 1.47. Conduent Incorporated has a 12-month low of $2.40 and a 12-month high of $4.22. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.05.

Conduent (NASDAQ:CNDT) last issued its 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 firm had revenue of $811.00 million during the quarter, compared to analysts’ expectations of $803.33 million. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share. On average, analysts forecast that Conduent Incorporated will post -0.53 earnings per share 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.