BNP Paribas Financial Markets Sells 12,762 Shares of Conduent Incorporated (NASDAQ:CNDT)

BNP Paribas Financial Markets reduced its position in Conduent Incorporated (NASDAQ:CNDT) by 7.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 166,568 shares of the company’s stock after selling 12,762 shares during the period. BNP Paribas Financial Markets owned 0.10% of Conduent worth $673,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Picton Mahoney Asset Management raised 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 acquiring an additional 6,524 shares during the period. SilverOak Wealth Management LLC bought a new stake in shares of Conduent during the 4th quarter valued at $53,000. Bailard Inc. bought a new stake in shares of Conduent during the 4th quarter valued at $58,000. Cibc World Markets Corp purchased a new stake in Conduent during the 4th quarter worth about $60,000. Finally, Zacks Investment Management bought a new position in Conduent in the 4th quarter worth about $82,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Giles Andrew Goodburn purchased 13,798 shares of the company’s stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $2.32 per share, with a total value of $32,011.36. Following the transaction, the executive vice president now directly owns 331,168 shares of the company’s stock, valued at approximately $768,309.76. This represents a 4.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.98% of the company’s stock.

Conduent Trading Up 5.8%

Shares of CNDT stock opened at $2.38 on Friday. The company has a market capitalization of $385.16 million, a PE ratio of 1.10 and a beta of 1.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.75 and a current ratio of 1.68. The business’s fifty day moving average is $2.35 and its 200 day moving average is $3.38. Conduent Incorporated has a 52-week low of $1.90 and a 52-week high of $4.90.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 company had revenue of $751.00 million during the quarter, compared to analyst estimates of $776.00 million. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s quarterly revenue was down 18.5% compared to the same quarter last year. On average, equities research analysts anticipate that Conduent Incorporated will post -0.34 EPS for the current fiscal 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.