Renaissance Technologies LLC Purchases 520,000 Shares of Conduent Incorporated (NASDAQ:CNDT)

Renaissance Technologies LLC grew its position in Conduent Incorporated (NASDAQ:CNDT) by 27.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,393,900 shares of the company’s stock after purchasing an additional 520,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Conduent were worth $7,804,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Guardian Capital LP acquired a new position in Conduent in the first quarter valued at $34,000. HTG Investment Advisors Inc. acquired a new position in shares of Conduent in the 2nd quarter valued at about $37,000. Headlands Technologies LLC boosted its position in shares of Conduent by 1,084.3% during the 1st quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock valued at $49,000 after purchasing an additional 13,153 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Conduent during the 4th quarter valued at about $63,000. Finally, Williams & Novak LLC acquired a new stake in Conduent during the second quarter worth approximately $65,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

Shares of CNDT opened at $3.83 on Thursday. The firm has a market cap of $621.99 million, a PE ratio of -4.26 and a beta of 1.46. Conduent Incorporated has a 52-week low of $2.40 and a 52-week high of $4.20. The business’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $3.50. 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 released its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. The company had revenue of $811.00 million for the quarter, compared to the consensus estimate of $803.33 million. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. Conduent’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS. On average, equities analysts anticipate that Conduent Incorporated will post -0.53 EPS for the current year.

Conduent Company 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.