Cubist Systematic Strategies LLC Sells 415,173 Shares of Conduent Incorporated (NASDAQ:CNDT)

Cubist Systematic Strategies LLC lessened its stake in shares of Conduent Incorporated (NASDAQ:CNDT) by 67.9% in the second quarter, HoldingsChannel.com reports. 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 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Factorial Partners LLC bought a new position in shares of Conduent during the 2nd quarter valued at approximately $3,295,000. JB Capital Partners LP grew its holdings in Conduent by 540.0% during the fourth quarter. JB Capital Partners LP now owns 800,000 shares of the company’s stock valued at $2,920,000 after purchasing an additional 675,000 shares during the period. Ancora Advisors LLC purchased a new stake in Conduent in the first quarter worth $1,957,000. Renaissance Technologies LLC raised its stake in shares of Conduent by 27.7% in the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after buying an additional 520,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Conduent by 198.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock valued at $2,582,000 after buying an additional 508,012 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Conduent Trading Down 0.3 %

Shares of CNDT opened at $3.89 on Friday. Conduent Incorporated has a fifty-two week low of $2.40 and a fifty-two week high of $4.20. The business has a 50-day moving average of $3.69 and a 200 day moving average of $3.52. The firm has a market cap of $795.83 million, a P/E ratio of -4.32 and a beta of 1.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.65 and a current ratio of 1.65.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The firm had revenue of $811.00 million during the quarter, compared to analyst estimates of $803.33 million. During the same quarter last year, the business earned $0.01 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts forecast that Conduent Incorporated will post -0.53 EPS for the current 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.