Jane Street Group LLC Increases Stake in Conduent Incorporated (NASDAQ:CNDT)

Jane Street Group LLC increased its holdings in Conduent Incorporated (NASDAQ:CNDT) by 59.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 833,861 shares of the company’s stock after acquiring an additional 311,579 shares during the quarter. Jane Street Group LLC owned approximately 0.52% of Conduent worth $3,360,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. HTG Investment Advisors Inc. bought a new stake in shares of Conduent in the 2nd quarter valued at about $37,000. Algert Global LLC purchased a new position in Conduent during the second quarter valued at approximately $52,000. Oppenheimer Asset Management Inc. bought a new position in Conduent in the second quarter worth approximately $80,000. Paloma Partners Management Co purchased a new stake in Conduent during the third quarter worth $100,000. Finally, Point72 DIFC Ltd boosted its position in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock valued at $89,000 after acquiring an additional 15,254 shares in the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Trading Up 2.6 %

Shares of NASDAQ:CNDT opened at $4.33 on Friday. 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 company has a market capitalization of $692.32 million, a PE ratio of 1.91 and a beta of 1.46. Conduent Incorporated has a 12-month low of $2.96 and a 12-month high of $4.44. The business’s fifty day simple moving average is $3.94 and its 200-day simple moving average is $3.73.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. As a group, equities research analysts predict 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.