SG Americas Securities LLC Increases Stake in Conduent Incorporated (NASDAQ:CNDT)

SG Americas Securities LLC lifted its position in Conduent Incorporated (NASDAQ:CNDT) by 233.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 33,851 shares of the company’s stock after acquiring an additional 23,704 shares during the period. SG Americas Securities LLC’s holdings in Conduent were worth $110,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in Conduent in the first quarter worth about $724,000. Assenagon Asset Management S.A. lifted its stake in shares of Conduent by 68.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 765,800 shares of the company’s stock worth $2,588,000 after acquiring an additional 310,299 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Conduent during the 1st quarter valued at $276,000. Jacobs Levy Equity Management Inc. grew its position in Conduent by 198.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock valued at $2,582,000 after acquiring an additional 508,012 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Conduent by 49.0% in the first quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company’s stock worth $485,000 after purchasing an additional 47,176 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Stock Performance

Shares of NASDAQ:CNDT opened at $3.79 on Tuesday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market cap of $775.37 million, a PE ratio of -4.21 and a beta of 1.51. The firm’s 50 day simple moving average is $3.50 and its 200-day simple moving average is $3.45. Conduent Incorporated has a one year low of $2.40 and a one year high of $4.20.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.14. The business had revenue of $811.00 million during the quarter, compared to analysts’ expectations of $803.33 million. Conduent had a negative return on equity of 2.50% and a negative net margin of 5.13%. The business’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. As a group, equities analysts predict that Conduent Incorporated will post -0.72 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Conduent from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 38,149,336 shares of the business’s stock in a transaction dated Saturday, June 8th. The shares were sold at an average price of $3.47, for a total value of $132,378,195.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.84% of the stock is owned by insiders.

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.