Squarepoint Ops LLC Has $1.55 Million Stake in Conduent Inc (NYSE:CNDT)

Squarepoint Ops LLC raised its stake in Conduent Inc (NYSE:CNDT) by 77.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 248,470 shares of the company’s stock after acquiring an additional 108,712 shares during the quarter. Squarepoint Ops LLC owned approximately 0.12% of Conduent worth $1,545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC grew its holdings in shares of Conduent by 342.5% during the 2nd quarter. Parallel Advisors LLC now owns 2,757 shares of the company’s stock valued at $26,000 after purchasing an additional 2,134 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Conduent by 1,014.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the company’s stock valued at $26,000 after buying an additional 2,446 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Conduent during the second quarter worth $67,000. World Asset Management Inc grew its stake in shares of Conduent by 28.1% during the third quarter. World Asset Management Inc now owns 13,473 shares of the company’s stock worth $84,000 after buying an additional 2,952 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Conduent during the third quarter worth $102,000. Institutional investors own 87.58% of the company’s stock.

CNDT opened at $6.39 on Tuesday. Conduent Inc has a fifty-two week low of $5.26 and a fifty-two week high of $15.48. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.49 and a beta of 1.87. The company’s 50 day moving average price is $6.44 and its two-hundred day moving average price is $7.49.

Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Conduent had a negative net margin of 32.11% and a positive return on equity of 6.33%. The company’s revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, equities research analysts predict that Conduent Inc will post 0.63 EPS for the current year.

CNDT has been the subject of a number of research reports. ValuEngine upgraded Conduent from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Needham & Company LLC set a $9.00 target price on Conduent and gave the stock a “buy” rating in a report on Tuesday, September 24th. Zacks Investment Research cut Conduent from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Finally, Citigroup reiterated a “neutral” rating and issued a $7.50 target price (down from $9.00) on shares of Conduent in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Conduent currently has a consensus rating of “Hold” and a consensus target price of $10.08.

Conduent Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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