Franklin Resources Inc. Boosts Position in Conduent Incorporated (NASDAQ:CNDT)

Franklin Resources Inc. lifted its position in Conduent Incorporated (NASDAQ:CNDT) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 118,841 shares of the company’s stock after purchasing an additional 10,787 shares during the quarter. Franklin Resources Inc.’s holdings in Conduent were worth $477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in Conduent by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 662,447 shares of the company’s stock worth $2,160,000 after acquiring an additional 28,209 shares during the period. Headlands Technologies LLC lifted its stake in shares of Conduent by 140.0% in 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. ClariVest Asset Management LLC lifted its stake in shares of 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 purchasing an additional 5,464 shares during the last quarter. Factorial Partners LLC purchased a new position in shares of Conduent during the 2nd quarter worth $3,295,000. Finally, American Century Companies Inc. increased its position in shares of Conduent by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 248,974 shares of the company’s stock worth $812,000 after purchasing an additional 31,052 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

Shares of CNDT opened at $4.04 on Wednesday. The company’s 50-day moving average price is $3.97 and its 200 day moving average price is $3.77. Conduent Incorporated has a 12-month low of $2.96 and a 12-month high of $4.59. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. The firm has a market cap of $645.96 million, a P/E ratio of 1.78 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $807.00 million for the quarter, compared to the consensus estimate of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The business’s revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) EPS. On average, sell-side analysts forecast that Conduent Incorporated will post -0.45 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.