Renaissance Technologies LLC Buys 311,300 Shares of Conduent Inc. $CNDT

Renaissance Technologies LLC raised its stake in shares of Conduent Inc. (NASDAQ:CNDT) by 13.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,608,400 shares of the company’s stock after purchasing an additional 311,300 shares during the period. Renaissance Technologies LLC owned 1.68% of Conduent worth $3,339,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of Conduent by 4.3% during the 3rd quarter. Sei Investments Co. now owns 201,619 shares of the company’s stock worth $565,000 after buying an additional 8,381 shares during the period. HTG Investment Advisors Inc. raised its holdings in Conduent by 66.8% in the 4th quarter. HTG Investment Advisors Inc. now owns 22,474 shares of the company’s stock worth $43,000 after acquiring an additional 9,000 shares during the period. Strs Ohio lifted its position in Conduent by 6.8% during the 4th quarter. Strs Ohio now owns 171,500 shares of the company’s stock worth $329,000 after acquiring an additional 10,900 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Conduent during the 2nd quarter worth $29,000. Finally, Goldman Sachs Group Inc. boosted its holdings in Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after acquiring an additional 11,428 shares during the period. Institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

Shares of Conduent stock opened at $1.70 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.59 and a quick ratio of 1.59. The company has a market cap of $263.67 million, a PE ratio of -1.67 and a beta of 1.44. The firm has a fifty day moving average price of $1.52 and a two-hundred day moving average price of $1.51. Conduent Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $2.98.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.12. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. The company had revenue of $723.00 million for the quarter, compared to the consensus estimate of $746.67 million. Analysts expect that Conduent Inc. will post -0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on CNDT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research note on Friday, July 17th. Zacks Research upgraded Conduent from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Finally, Noble Financial raised Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.