Royce & Associates LP Decreases Holdings in Conduent Incorporated (NASDAQ:CNDT)

Royce & Associates LP cut its holdings in shares of Conduent Incorporated (NASDAQ:CNDT) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,822,467 shares of the company’s stock after selling 130,630 shares during the quarter. Royce & Associates LP owned approximately 1.12% of Conduent worth $7,345,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Guardian Capital LP purchased a new stake in Conduent in the 1st quarter worth about $34,000. HTG Investment Advisors Inc. purchased a new stake in Conduent in the 2nd quarter worth about $37,000. Algert Global LLC bought a new position in Conduent in the 2nd quarter worth about $52,000. Williams & Novak LLC bought a new position in Conduent in the 2nd quarter worth about $65,000. Finally, Lazard Asset Management LLC bought a new position in Conduent in the 1st quarter worth about $79,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Stock Down 3.2 %

Shares of NASDAQ CNDT opened at $3.92 on Monday. Conduent Incorporated has a 52 week low of $2.65 and a 52 week high of $4.38. The business has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $3.68. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market cap of $626.77 million, a P/E ratio of 1.73 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last issued its 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 during the quarter, compared to the consensus estimate of $817.33 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue was down 13.4% compared to the same quarter last year. Research analysts anticipate that Conduent Incorporated will post -0.45 earnings per share 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.