The Manufacturers Life Insurance Company Has $235,000 Stake in Conduent Incorporated (NASDAQ:CNDT)

The Manufacturers Life Insurance Company trimmed its position in shares of Conduent Incorporated (NASDAQ:CNDT) by 7.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,235 shares of the company’s stock after selling 4,804 shares during the period. The Manufacturers Life Insurance Company’s holdings in Conduent were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CNDT. Picton Mahoney Asset Management increased its holdings in shares of Conduent by 288.7% in the fourth 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 during the last quarter. SilverOak Wealth Management LLC acquired a new position in shares of Conduent in the fourth quarter valued at $53,000. Bailard Inc. acquired a new position in shares of Conduent in the fourth quarter valued at $58,000. Cibc World Markets Corp acquired a new position in shares of Conduent in the fourth quarter valued at $60,000. Finally, Zacks Investment Management acquired a new position in shares of Conduent in the fourth quarter valued at $82,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

NASDAQ:CNDT opened at $2.25 on Monday. Conduent Incorporated has a one year low of $1.90 and a one year high of $4.90. The company has a market cap of $364.12 million, a P/E ratio of 1.04 and a beta of 1.52. The firm’s fifty day moving average price is $2.42 and its two-hundred day moving average price is $3.41. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. The firm had revenue of $751.00 million for the quarter, compared to the consensus estimate of $776.00 million. During the same period in the previous year, the company earned $0.46 earnings per share. The company’s quarterly revenue was down 18.5% on a year-over-year basis. Equities analysts expect that Conduent Incorporated will post -0.34 earnings per share for the current year.

Insider Activity at Conduent

In other Conduent news, EVP Giles Andrew Goodburn purchased 13,798 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $2.32 per share, for a total transaction of $32,011.36. Following the completion of the purchase, the executive vice president now owns 331,168 shares of the company’s stock, valued at approximately $768,309.76. The trade was a 4.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.98% of the stock is currently owned by corporate insiders.

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.