Conduent (NASDAQ:CNDT) Announces Quarterly Earnings Results

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

Conduent Trading Down 19.8%

NASDAQ:CNDT traded down $0.44 during trading hours on Friday, reaching $1.78. 3,790,934 shares of the stock were exchanged, compared to its average volume of 1,129,784. Conduent has a twelve month low of $1.72 and a twelve month high of $4.90. The business has a 50-day moving average of $2.64 and a two-hundred day moving average of $2.55. The company has a market capitalization of $281.19 million, a price-to-earnings ratio of 44.51 and a beta of 1.39. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On Conduent

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Conduent by 1.1% during the 3rd 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 during the period. Goldman Sachs Group Inc. increased its stake in Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock worth $5,300,000 after purchasing an additional 11,428 shares during the period. AQR Capital Management LLC lifted its position in shares of Conduent by 136.5% during the second quarter. AQR Capital Management LLC now owns 1,750,748 shares of the company’s stock worth $4,622,000 after purchasing an additional 1,010,373 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Conduent by 6.2% in the second quarter. Bridgeway Capital Management LLC now owns 1,478,536 shares of the company’s stock valued at $3,903,000 after purchasing an additional 86,561 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Conduent by 3.0% in the first quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock valued at $2,333,000 after purchasing an additional 25,515 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Analyst Ratings Changes

CNDT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research note on Wednesday, October 8th. Finally, Singular Research upgraded 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 given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.