Conduent (NASDAQ:CNDT) Shares Gap Up – Should You Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $3.74, but opened at $3.84. Conduent shares last traded at $3.85, with a volume of 56,287 shares trading hands.

Conduent Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The business has a 50-day simple moving average of $3.87 and a 200-day simple moving average of $3.67. The firm has a market capitalization of $591.59 million, a PE ratio of 1.62 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. During the same quarter last year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. Equities research analysts expect that Conduent Incorporated will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Conduent

Large investors have recently added to or reduced their stakes in the company. HTG Investment Advisors Inc. purchased a new stake in Conduent during the 2nd quarter valued at about $37,000. Algert Global LLC acquired a new position in shares of Conduent in the 2nd quarter valued at about $52,000. Williams & Novak LLC acquired a new position in shares of Conduent in the 2nd quarter valued at about $65,000. Lazard Asset Management LLC acquired a new position in Conduent in the 1st quarter worth about $79,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Conduent in the 2nd quarter worth about $80,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

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.