Victory Capital Management Inc. Sells 5,401 Shares of Conduent Incorporated (NASDAQ:CNDT)

Victory Capital Management Inc. reduced its position in shares of Conduent Incorporated (NASDAQ:CNDT) by 22.2% during the third quarter, Holdings Channel reports. The firm owned 18,902 shares of the company’s stock after selling 5,401 shares during the period. Victory Capital Management Inc.’s holdings in Conduent were worth $76,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNDT. HTG Investment Advisors Inc. bought a new position in shares of Conduent during the 2nd quarter worth approximately $37,000. Algert Global LLC purchased a new stake in shares of Conduent during the second quarter valued at approximately $52,000. Williams & Novak LLC bought a new stake in Conduent during the second quarter worth $65,000. Lazard Asset Management LLC purchased a new position in Conduent in the first quarter worth $79,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Conduent in the 2nd quarter valued at $80,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Trading Up 0.8 %

Shares of Conduent stock opened at $3.73 on Monday. The firm has a market cap of $596.39 million, a PE ratio of 1.64 and a beta of 1.48. Conduent Incorporated has a 1 year low of $2.96 and a 1 year high of $4.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a fifty day moving average price of $3.86 and a 200-day moving average price of $3.67.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million during the quarter, compared to analyst estimates of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The firm’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Equities research analysts anticipate that Conduent Incorporated will post -0.45 EPS 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.