Intrepid Capital Management Inc. Cuts Stock Position in Conduent Incorporated (NASDAQ:CNDT)

Intrepid Capital Management Inc. reduced its position in Conduent Incorporated (NASDAQ:CNDT) by 9.9% in the third quarter, Holdings Channel.com reports. The firm owned 379,338 shares of the company’s stock after selling 41,720 shares during the quarter. Intrepid Capital Management Inc.’s holdings in Conduent were worth $1,529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HTG Investment Advisors Inc. purchased a new position in shares of Conduent in the 2nd quarter worth about $37,000. Algert Global LLC purchased a new position in shares of Conduent in the 2nd quarter worth about $52,000. Williams & Novak LLC purchased a new position in shares of Conduent in the 2nd quarter worth about $65,000. Lazard Asset Management LLC purchased a new position in shares of Conduent in the 1st quarter worth about $79,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in Conduent during the 2nd quarter valued at about $80,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Trading Down 3.1 %

CNDT stock traded down $0.13 during trading on Tuesday, hitting $4.01. 63,940 shares of the company traded hands, compared to its average volume of 1,100,040. The firm has a market capitalization of $641.16 million, a PE ratio of 1.82 and a beta of 1.46. Conduent Incorporated has a 1 year low of $2.96 and a 1 year high of $4.38. The company has a 50-day moving average of $3.86 and a 200-day moving average of $3.67. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75.

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