Zurcher Kantonalbank Zurich Cantonalbank Purchases 15,270 Shares of Conduent Inc. (NASDAQ:CNDT)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Conduent Inc. (NASDAQ:CNDT) by 63.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,251 shares of the company’s stock after buying an additional 15,270 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Conduent were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Conduent by 526.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company’s stock worth $12,997,000 after buying an additional 2,703,849 shares during the last quarter. Renaissance Technologies LLC lifted its position in Conduent by 10.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,510,399 shares of the company’s stock worth $10,142,000 after buying an additional 227,899 shares during the last quarter. Millennium Management LLC lifted its position in Conduent by 59.5% in the 4th quarter. Millennium Management LLC now owns 912,465 shares of the company’s stock worth $3,686,000 after buying an additional 340,283 shares during the last quarter. Blue Owl Capital Holdings LP lifted its position in Conduent by 67.3% in the 4th 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 last quarter. Finally, ProShare Advisors LLC lifted its position in Conduent by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 44,532 shares of the company’s stock worth $180,000 after buying an additional 14,653 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Shares of CNDT stock opened at $2.48 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.65. Conduent Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $4.90. The stock has a 50 day moving average price of $2.66 and a two-hundred day moving average price of $2.81. The company has a market capitalization of $391.77 million, a P/E ratio of 62.02 and a beta of 1.66.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. Conduent had a negative return on equity of 9.88% and a net margin of 0.64%. The firm had revenue of $754.00 million during the quarter, compared to the consensus estimate of $777.00 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Analysts expect that Conduent Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Harshavardhan V. Agadi acquired 100,000 shares of the stock in a transaction on Wednesday, June 18th. The stock was purchased at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the transaction, the director owned 100,000 shares of the company’s stock, valued at $281,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.98% of the company’s stock.

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.