Principal Financial Group Inc. Reduces Position in Conduent Incorporated (NASDAQ:CNDT)

Principal Financial Group Inc. trimmed its holdings in Conduent Incorporated (NASDAQ:CNDT) by 29.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,226 shares of the company’s stock after selling 4,589 shares during the quarter. Principal Financial Group Inc.’s holdings in Conduent were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNDT. HTG Investment Advisors Inc. bought a new position in Conduent in the 2nd quarter valued at $37,000. Algert Global LLC bought a new position in shares of Conduent in the second quarter worth about $52,000. Williams & Novak LLC purchased a new position in Conduent in the 2nd quarter worth about $65,000. Lazard Asset Management LLC bought a new stake in Conduent during the 1st quarter valued at about $79,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in Conduent during the 2nd quarter valued at about $80,000. 77.28% of the stock is owned by institutional investors.

Conduent Price Performance

Shares of CNDT stock opened at $3.83 on Wednesday. The company has a market capitalization of $612.38 million, a P/E ratio of 1.69 and a beta of 1.48. The company’s 50-day simple moving average is $3.87 and its two-hundred day simple moving average is $3.67. Conduent Incorporated has a one year low of $2.95 and a one year high of $4.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. Conduent’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. As a group, equities analysts anticipate that Conduent Incorporated will post -0.45 EPS for the current 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.