Northern Trust Corp Has $6.12 Million Stake in Conduent Incorporated (NASDAQ:CNDT)

Northern Trust Corp increased its position in Conduent Incorporated (NASDAQ:CNDT) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,515,776 shares of the company’s stock after buying an additional 76,021 shares during the period. Northern Trust Corp owned 0.95% of Conduent worth $6,124,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its position 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 acquiring an additional 6,524 shares during the period. SilverOak Wealth Management LLC bought a new position in Conduent in the fourth quarter valued at about $53,000. Bailard Inc. bought a new position in Conduent in the fourth quarter valued at about $58,000. Cibc World Markets Corp bought a new position in Conduent during the fourth quarter worth about $60,000. Finally, Zacks Investment Management bought a new position in Conduent during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Insiders Place Their Bets

In other Conduent news, EVP Giles Andrew Goodburn bought 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, with a total value of $32,011.36. Following the acquisition, the executive vice president now owns 331,168 shares of the company’s stock, valued at $768,309.76. The trade was a 4.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.98% of the company’s stock.

Conduent Trading Down 1.3%

NASDAQ:CNDT opened at $2.22 on Tuesday. Conduent Incorporated has a fifty-two week low of $1.90 and a fifty-two week high of $4.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The stock has a market capitalization of $359.26 million, a PE ratio of 1.03 and a beta of 1.52. The business’s 50-day simple moving average is $2.40 and its 200-day simple moving average is $3.40.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $751.00 million for the quarter, compared to analyst estimates of $776.00 million. Conduent had a negative return on equity of 11.39% and a net margin of 12.69%. Conduent’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. Sell-side analysts expect that Conduent Incorporated will post -0.34 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.