BBR Partners LLC Makes New Investment in Conduent Incorporated (NASDAQ:CNDT)

BBR Partners LLC purchased a new stake in Conduent Incorporated (NASDAQ:CNDT) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 30,000 shares of the company’s stock, valued at approximately $121,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Renaissance Technologies LLC grew its position in Conduent by 27.7% during the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after acquiring an additional 520,000 shares during the period. Factorial Partners LLC purchased a new stake in shares of Conduent during the 2nd quarter worth about $3,295,000. Panagora Asset Management Inc. increased its position in Conduent by 25.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after purchasing an additional 194,250 shares in the last quarter. Empowered Funds LLC raised its holdings in Conduent by 5.4% in the third quarter. Empowered Funds LLC now owns 797,654 shares of the company’s stock valued at $3,215,000 after buying an additional 40,602 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in Conduent by 198.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock valued at $2,582,000 after buying an additional 508,012 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

Conduent stock opened at $3.70 on Friday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $591.59 million, a P/E ratio of 1.63 and a beta of 1.48. The firm has a fifty day moving average of $3.87 and a 200-day moving average of $3.67. Conduent Incorporated has a 52-week low of $2.95 and a 52-week high of $4.38.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same period last year, the company posted ($0.09) earnings per share. The firm’s revenue was down 13.4% compared to the same quarter last year. As a group, analysts predict 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.