Bank of New York Mellon Corp Sells 20,720 Shares of Conduent Incorporated (NASDAQ:CNDT)

Bank of New York Mellon Corp lessened its stake in Conduent Incorporated (NASDAQ:CNDT) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 498,113 shares of the company’s stock after selling 20,720 shares during the quarter. Bank of New York Mellon Corp’s holdings in Conduent were worth $2,012,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. SilverOak Wealth Management LLC bought a new position in shares of Conduent in the fourth quarter valued at approximately $53,000. Paloma Partners Management Co purchased a new stake in shares of Conduent during the third quarter valued at approximately $100,000. BBR Partners LLC purchased a new stake in shares of Conduent during the third quarter valued at approximately $121,000. New York State Common Retirement Fund increased its position in shares of Conduent by 36.6% during the fourth quarter. New York State Common Retirement Fund now owns 35,187 shares of the company’s stock valued at $142,000 after acquiring an additional 9,436 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Conduent during the third quarter valued at approximately $146,000. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Shares of CNDT opened at $3.05 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $493.58 million, a price-to-earnings ratio of 1.41 and a beta of 1.36. The stock has a 50 day moving average of $3.73 and a 200 day moving average of $3.87. Conduent Incorporated has a 12 month low of $2.88 and a 12 month high of $4.90.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, February 12th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. As a group, sell-side analysts forecast that Conduent Incorporated will post -0.34 earnings per share for the current year.

Conduent Company 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.