Conduent (NASDAQ:CNDT) Issues Earnings Results, Misses Estimates By $0.02 EPS

Conduent (NASDAQ:CNDT) released its quarterly earnings data on Friday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02), Zacks reports. Conduent had a negative return on equity of 9.88% and a net margin of 0.64%.The company had revenue of $767.00 million for the quarter, compared to analyst estimates of $792.00 million. During the same period last year, the firm posted ($0.14) EPS. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Conduent updated its FY 2025 guidance to EPS.

Conduent Trading Down 19.8%

CNDT traded down $0.44 on Friday, hitting $1.78. The company had a trading volume of 3,790,934 shares, compared to its average volume of 1,129,784. The company’s fifty day moving average price is $2.64 and its 200 day moving average price is $2.55. Conduent has a 1 year low of $1.72 and a 1 year high of $4.90. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.81. The firm has a market cap of $281.19 million, a P/E ratio of 44.51 and a beta of 1.39.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CNDT. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Finally, Singular Research upgraded shares of Conduent to a “strong-buy” rating in a report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Conduent

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Conduent by 1.1% in the third quarter. Vanguard Group Inc. now owns 8,635,381 shares of the company’s stock valued at $24,179,000 after acquiring an additional 93,759 shares in the last quarter. JPMorgan Chase & Co. raised its position in Conduent by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 439,105 shares of the company’s stock valued at $1,229,000 after purchasing an additional 87,072 shares in the last quarter. Sender Co & Partners Inc. acquired a new stake in Conduent in the 2nd quarter valued at about $98,000. Captrust Financial Advisors purchased a new position in shares of Conduent in the 2nd quarter valued at about $48,000. Finally, Paradigm Capital Management Inc. NY grew its position in shares of Conduent by 150.0% during the second quarter. Paradigm Capital Management Inc. NY now owns 200,000 shares of the company’s stock worth $528,000 after buying an additional 120,000 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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.