California State Teachers Retirement System Lowers Position in Conduent Incorporated (NASDAQ:CNDT)

California State Teachers Retirement System trimmed its stake in Conduent Incorporated (NASDAQ:CNDT) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,715 shares of the company’s stock after selling 7,654 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Conduent worth $556,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CNDT. JPMorgan Chase & Co. grew its holdings in Conduent by 526.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company’s stock valued at $12,997,000 after purchasing an additional 2,703,849 shares during the period. Blue Owl Capital Holdings LP grew its stake in Conduent by 67.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 5,625,459 shares of the company’s stock worth $22,727,000 after buying an additional 2,262,437 shares during the period. American Century Companies Inc. grew its stake in Conduent by 156.8% during the fourth quarter. American Century Companies Inc. now owns 2,354,300 shares of the company’s stock worth $9,511,000 after buying an additional 1,437,479 shares during the period. Prudential Financial Inc. grew its stake in Conduent by 1,011.1% during the fourth quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company’s stock worth $6,086,000 after buying an additional 1,370,961 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Conduent by 100.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,317,936 shares of the company’s stock worth $9,364,000 after buying an additional 1,162,068 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Conduent

In other news, EVP Giles Andrew Goodburn bought 13,798 shares of Conduent stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 331,168 shares in the company, valued at approximately $768,309.76. This trade represents a 4.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.98% of the company’s stock.

Conduent Price Performance

CNDT opened at $2.73 on Thursday. 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 52-week low of $1.90 and a 52-week high of $4.90. The company has a 50 day moving average of $2.23 and a two-hundred day moving average of $3.23. The company has a market cap of $441.80 million, a P/E ratio of 1.26 and a beta of 1.54.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data 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 the consensus estimate of $776.00 million. During the same period in the previous year, the firm earned $0.46 earnings per share. Conduent’s revenue for the quarter was down 18.5% on a year-over-year basis. On average, analysts expect that Conduent Incorporated will post -0.34 earnings per share 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.