William Blair Investment Management LLC Sells 13,229 Shares of Conduent Incorporated (NASDAQ:CNDT)

William Blair Investment Management LLC cut its holdings in Conduent Incorporated (NASDAQ:CNDT) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,380,324 shares of the company’s stock after selling 13,229 shares during the period. William Blair Investment Management LLC’s holdings in Conduent were worth $20,800,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. American Century Companies Inc. raised its stake in shares of Conduent by 14.2% during the second quarter. American Century Companies Inc. now owns 248,974 shares of the company’s stock valued at $812,000 after acquiring an additional 31,052 shares during the last quarter. Factorial Partners LLC bought a new position in shares of Conduent during the second quarter valued at about $3,295,000. ClariVest Asset Management LLC raised its stake in shares of Conduent by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after acquiring an additional 5,464 shares during the last quarter. Headlands Technologies LLC raised its stake in shares of Conduent by 140.0% during the second quarter. Headlands Technologies LLC now owns 34,476 shares of the company’s stock valued at $112,000 after acquiring an additional 20,110 shares during the last quarter. Finally, HTG Investment Advisors Inc. bought a new position in shares of Conduent during the second quarter valued at about $37,000. 77.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Conduent Price Performance

Shares of NASDAQ CNDT opened at $3.92 on Monday. Conduent Incorporated has a 1 year low of $2.40 and a 1 year high of $4.20. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65. The company’s 50-day moving average is $3.66 and its 200 day moving average is $3.47. The stock has a market capitalization of $801.97 million, a P/E ratio of -4.36 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The company had revenue of $811.00 million for the quarter, compared to analysts’ expectations of $803.33 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. Conduent’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts expect that Conduent Incorporated will post -0.53 earnings per share 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.