Conduent (NASDAQ:CNDT) Trading Up 5.7% – Here’s What Happened

Conduent Inc. (NASDAQ:CNDT)’s stock price was up 5.7% during mid-day trading on Monday . The company traded as high as $1.55 and last traded at $1.48. Approximately 1,319,628 shares changed hands during mid-day trading, a decline of 2% from the average daily volume of 1,340,936 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CNDT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research note on Monday, April 20th. Wall Street Zen raised shares of Conduent from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Noble Financial raised shares of Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Conduent presently has a consensus rating of “Buy”.

Conduent Trading Up 5.7%

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 1.09. The firm has a market cap of $229.55 million, a price-to-earnings ratio of -1.45 and a beta of 1.42. The business’s fifty day moving average is $1.60 and its two-hundred day moving average is $1.64.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $723.00 million during the quarter, compared to analyst estimates of $746.67 million. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. Equities analysts anticipate that Conduent Inc. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Conduent

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC grew its holdings in Conduent by 28,720.0% during the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after acquiring an additional 14,360 shares during the period. Boothbay Fund Management LLC acquired a new stake in Conduent during the 2nd quarter worth $29,000. FNY Investment Advisers LLC grew its holdings in Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after acquiring an additional 5,165 shares during the period. M&T Bank Corp acquired a new stake in Conduent during the 4th quarter worth $33,000. Finally, Modern Wealth Management LLC acquired a new stake in Conduent during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.