JPMorgan Chase & Co. Buys 2,703,849 Shares of Conduent Incorporated (NASDAQ:CNDT)

JPMorgan Chase & Co. raised its stake in Conduent Incorporated (NASDAQ:CNDT) by 526.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,216,978 shares of the company’s stock after acquiring an additional 2,703,849 shares during the period. JPMorgan Chase & Co. owned about 2.01% of Conduent worth $12,997,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its holdings in Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after purchasing an additional 6,524 shares in the last quarter. SilverOak Wealth Management LLC acquired a new stake in shares of Conduent in the fourth quarter valued at $53,000. Bailard Inc. bought a new position in shares of Conduent in the fourth quarter valued at about $58,000. Cibc World Markets Corp acquired a new position in Conduent during the 4th quarter worth about $60,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Conduent during the 4th quarter worth about $114,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Trading Down 4.2 %

CNDT opened at $2.04 on Monday. Conduent Incorporated has a 1-year low of $1.98 and a 1-year high of $4.90. The stock has a market capitalization of $330.13 million, a PE ratio of 0.94 and a beta of 1.36. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $3.24 and a two-hundred day moving average price of $3.72.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. As a group, equities analysts anticipate that Conduent Incorporated will post -0.34 earnings per share for the current fiscal 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.