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

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

Analyst Ratings Changes

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

Conduent Stock Up 5.7%

The firm has a market capitalization of $229.55 million, a P/E ratio of -1.45 and a beta of 1.42. The firm’s 50-day moving average is $1.60 and its 200 day moving average is $1.64. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.12. The business had revenue of $723.00 million for the quarter, compared to analysts’ expectations of $746.67 million. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. As a group, equities research analysts predict that Conduent Inc. will post -0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

Several institutional investors have recently added to or reduced their stakes in CNDT. AQR Capital Management LLC lifted its position in Conduent by 106.7% in the 1st quarter. AQR Capital Management LLC now owns 740,375 shares of the company’s stock valued at $1,999,000 after acquiring an additional 382,191 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Conduent by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after acquiring an additional 11,428 shares in the last quarter. Caxton Associates LLP bought a new stake in Conduent during the 1st quarter worth about $249,000. Empowered Funds LLC lifted its position in Conduent by 3.0% during the 1st quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock worth $2,333,000 after buying an additional 25,515 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in Conduent by 20.9% during the 1st quarter. Jane Street Group LLC now owns 397,856 shares of the company’s stock worth $1,074,000 after buying an additional 68,860 shares in 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.