Conduent Incorporated (NASDAQ:CNDT) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Conduent Incorporated (NASDAQ:CNDT) by 29.0% in the 3rd quarter, Holdings Channel reports. The firm owned 11,226 shares of the company’s stock after selling 4,589 shares during the quarter. Principal Financial Group Inc.’s holdings in Conduent were worth $45,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CNDT. Franklin Resources Inc. boosted its position in shares of Conduent by 10.0% in the third quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock worth $477,000 after buying an additional 10,787 shares during the period. Barclays PLC lifted its position in Conduent by 233.0% during the 3rd quarter. Barclays PLC now owns 271,923 shares of the company’s stock worth $1,096,000 after acquiring an additional 190,269 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Conduent by 7.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock worth $635,000 after acquiring an additional 11,464 shares during the period. Jane Street Group LLC grew its position in Conduent by 59.7% in the third quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after acquiring an additional 311,579 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Conduent by 163.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock valued at $6,125,000 after purchasing an additional 942,459 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Price Performance

Shares of CNDT stock opened at $3.95 on Wednesday. The firm has a fifty day simple moving average of $4.01 and a 200-day simple moving average of $3.81. The company has a market capitalization of $631.57 million, a PE ratio of 1.74 and a beta of 1.44. Conduent Incorporated has a twelve month low of $2.96 and a twelve 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.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was down 13.4% compared to the same quarter last year. Equities research analysts anticipate that Conduent Incorporated will post -0.45 earnings per share for the current fiscal year.

About Conduent

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.