Empowered Funds LLC Acquires 40,602 Shares of Conduent Incorporated (NASDAQ:CNDT)

Empowered Funds LLC boosted its holdings in Conduent Incorporated (NASDAQ:CNDT) by 5.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 797,654 shares of the company’s stock after purchasing an additional 40,602 shares during the period. Empowered Funds LLC owned about 0.49% of Conduent worth $3,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Guardian Capital LP bought a new position in shares of Conduent in the 1st quarter valued at about $34,000. HTG Investment Advisors Inc. acquired a new position in shares of Conduent during the 2nd quarter worth approximately $37,000. Algert Global LLC acquired a new position in shares of Conduent during the 2nd quarter worth approximately $52,000. Williams & Novak LLC bought a new stake in shares of Conduent during the 2nd quarter worth approximately $65,000. Finally, Lazard Asset Management LLC bought a new position in shares of Conduent in the first quarter valued at $79,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

Shares of CNDT opened at $3.69 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. The company’s fifty day simple moving average is $3.88 and its 200 day simple moving average is $3.68. Conduent Incorporated has a 1-year low of $2.77 and a 1-year high of $4.38. The company has a market cap of $589.99 million, a price-to-earnings ratio of 1.63 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same period in the previous year, the business earned ($0.09) EPS. Conduent’s revenue for the quarter was down 13.4% compared to the same quarter last year. On average, research analysts forecast that Conduent Incorporated will post -0.45 earnings per share for the current fiscal 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.