Prudential Financial Inc. Acquires 1,370,961 Shares of Conduent Incorporated (NASDAQ:CNDT)

Prudential Financial Inc. grew its holdings in Conduent Incorporated (NASDAQ:CNDT) by 1,011.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,506,557 shares of the company’s stock after acquiring an additional 1,370,961 shares during the quarter. Prudential Financial Inc. owned 0.94% of Conduent worth $6,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Intech Investment Management LLC acquired a new stake in Conduent in the 3rd quarter worth $146,000. BNP Paribas Financial Markets lifted its stake in shares of Conduent by 68.3% in the third quarter. BNP Paribas Financial Markets now owns 179,330 shares of the company’s stock valued at $723,000 after buying an additional 72,783 shares during the period. Paloma Partners Management Co acquired a new stake in Conduent during the third quarter worth about $100,000. Jacobs Levy Equity Management Inc. grew its position in Conduent by 163.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after buying an additional 942,459 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Conduent by 59.7% during the third quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after acquiring an additional 311,579 shares during the period. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Price Performance

Shares of CNDT stock opened at $2.78 on Monday. Conduent Incorporated has a 12 month low of $2.74 and a 12 month high of $4.90. The company has a market capitalization of $449.89 million, a P/E ratio of 1.29 and a beta of 1.36. The stock has a 50 day moving average of $3.62 and a two-hundred day moving average of $3.84. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73.

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

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.