Conduent (NASDAQ:CNDT – Get Free Report) announced its quarterly earnings results on Monday. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.04), FiscalAI reports. Conduent had a negative return on equity of 8.03% and a negative net margin of 5.59%.The business had revenue of $723.00 million for the quarter, compared to analyst estimates of $746.67 million.
Conduent Price Performance
NASDAQ CNDT traded down $0.06 on Monday, reaching $1.71. 796,917 shares of the stock traded hands, compared to its average volume of 1,386,871. The firm’s fifty day simple moving average is $1.46 and its 200 day simple moving average is $1.75. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.97. The company has a market cap of $264.45 million, a price-to-earnings ratio of -1.53 and a beta of 1.43. Conduent has a 12 month low of $1.15 and a 12 month high of $2.98.
Analyst Ratings Changes
A number of research analysts have issued reports on CNDT shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Monday, April 20th. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.
Insider Buying and Selling at Conduent
In other news, Director Michael Fucci purchased 60,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of $1.44 per share, with a total value of $86,400.00. Following the purchase, the director owned 166,102 shares in the company, valued at $239,186.88. This trade represents a 56.55% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hernandez Margarita Palau purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were purchased at an average cost of $1.45 per share, with a total value of $72,500.00. Following the completion of the purchase, the director owned 50,000 shares in the company, valued at $72,500. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 337,099 shares of company stock valued at $499,974. 1.92% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Conduent
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Conduent by 35.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,116,277 shares of the company’s stock valued at $13,663,000 after acquiring an additional 1,854,266 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Conduent by 136.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,750,748 shares of the company’s stock valued at $4,622,000 after acquiring an additional 1,010,373 shares during the last quarter. Armistice Capital LLC acquired a new stake in shares of Conduent during the 2nd quarter valued at $2,207,000. Russell Investments Group Ltd. lifted its position in shares of Conduent by 179.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 994,644 shares of the company’s stock valued at $2,785,000 after acquiring an additional 638,338 shares during the last quarter. Finally, Moore Capital Management LP lifted its position in shares of Conduent by 308.0% during the 4th quarter. Moore Capital Management LP now owns 502,627 shares of the company’s stock valued at $965,000 after acquiring an additional 379,438 shares during the last quarter. 77.28% of the stock is owned by institutional investors.
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.
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