Balyasny Asset Management L.P. Purchases New Holdings in Conduent Incorporated (NASDAQ:CNDT)

Balyasny Asset Management L.P. purchased a new stake in Conduent Incorporated (NASDAQ:CNDT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 111,104 shares of the company’s stock, valued at approximately $449,000.

A number of other large investors also recently added to or reduced their stakes in CNDT. Picton Mahoney Asset Management increased its stake in shares of Conduent by 288.7% in the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after acquiring an additional 6,524 shares during the last quarter. SilverOak Wealth Management LLC bought a new stake in Conduent in the fourth quarter valued at approximately $53,000. Bailard Inc. acquired a new stake in Conduent in the fourth quarter worth $58,000. Cibc World Markets Corp bought a new position in shares of Conduent during the fourth quarter worth $60,000. Finally, Zacks Investment Management bought a new position in shares of Conduent during the fourth quarter worth $82,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Price Performance

CNDT opened at $2.25 on Friday. The stock has a market cap of $364.12 million, a P/E ratio of 1.04 and a beta of 1.52. Conduent Incorporated has a 12 month low of $1.90 and a 12 month high of $4.90. The company has a quick ratio of 1.75, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. The company has a fifty day simple moving average of $2.42 and a 200 day simple moving average of $3.42.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $751.00 million during the quarter, compared to analysts’ expectations of $776.00 million. Conduent had a negative return on equity of 11.39% and a net margin of 12.69%. The company’s revenue was down 18.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 earnings per share. On average, research analysts expect that Conduent Incorporated will post -0.34 EPS for the current year.

Insider Activity at Conduent

In related news, EVP Giles Andrew Goodburn acquired 13,798 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were acquired at an average cost of $2.32 per share, for a total transaction of $32,011.36. Following the completion of the acquisition, the executive vice president now directly owns 331,168 shares in the company, valued at approximately $768,309.76. The trade was a 4.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.98% of the stock is owned by insiders.

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.