Paloma Partners Management Co Invests $100,000 in Conduent Incorporated (NASDAQ:CNDT)

Paloma Partners Management Co purchased a new stake in shares of Conduent Incorporated (NASDAQ:CNDT) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,895 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 acquiring an additional 520,000 shares during the last quarter. Factorial Partners LLC bought a new position in Conduent in the 2nd quarter valued at $3,295,000. Panagora Asset Management Inc. boosted its stake in Conduent by 25.0% in the second quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after purchasing an additional 194,250 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Conduent by 5.4% during the third quarter. Empowered Funds LLC now owns 797,654 shares of the company’s stock worth $3,215,000 after purchasing an additional 40,602 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Conduent by 9.1% in the third quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock valued at $2,758,000 after buying an additional 57,183 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Down 0.7 %

Shares of NASDAQ CNDT opened at $4.03 on Friday. Conduent Incorporated has a 12-month low of $2.96 and a 12-month high of $4.38. The firm’s 50-day simple moving average is $3.89 and its 200 day simple moving average is $3.68. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market cap of $644.36 million, a price-to-earnings ratio of 1.78 and a beta of 1.46.

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