This form has a function corresponding to the English active adjectival participle (walking, making, etc.). Formation:

parlare to speak - parlante speaking

credere to believe - credente believing

servire to serve - servente serving.

Not all verbs have participio presente. Moreover, sometimes in conjugation 3, the ending is –iente:

nutriente from: nutrire.

Participio presente declines like adjectives –e (uomo parlante, donna parlante, uomin parlanti, donne parlanti).