Raymond James Financial Inc. Makes New $797,000 Investment in Conduent Incorporated (NASDAQ:CNDT)

Raymond James Financial Inc. bought a new stake in Conduent Incorporated (NASDAQ:CNDT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 197,353 shares of the company’s stock, valued at approximately $797,000. Raymond James Financial Inc. owned 0.12% of Conduent at the end of the most recent reporting period.

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

Conduent Stock Performance

Shares of NASDAQ CNDT opened at $2.05 on Wednesday. The business’s 50 day moving average is $2.59 and its two-hundred day moving average is $3.50. The company has a market cap of $331.75 million, a P/E ratio of 0.95 and a beta of 1.52. The company has a quick ratio of 1.75, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. Conduent Incorporated has a 12 month low of $1.93 and a 12 month high of $4.90.

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