Conduent (NASDAQ:CNDT) Trading 6.4% Higher – What’s Next?

Conduent Incorporated (NASDAQ:CNDT)’s share price rose 6.4% during mid-day trading on Monday . The stock traded as high as $4.01 and last traded at $3.97. Approximately 269,458 shares were traded during trading, a decline of 75% from the average daily volume of 1,096,870 shares. The stock had previously closed at $3.73.

Conduent Stock Down 1.4 %

The firm’s 50 day simple moving average is $3.87 and its 200-day simple moving average is $3.67. The company has a market capitalization of $652.35 million, a price-to-earnings ratio of 1.80 and a beta of 1.46. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. Conduent’s revenue was down 13.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.09) earnings per share. On average, sell-side analysts anticipate that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNDT. HTG Investment Advisors Inc. purchased a new position in shares of Conduent in the 2nd quarter worth about $37,000. Algert Global LLC acquired a new position in Conduent during the second quarter valued at approximately $52,000. Williams & Novak LLC purchased a new stake in Conduent during the second quarter worth approximately $65,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Conduent in the second quarter worth $80,000. Finally, Paloma Partners Management Co purchased a new position in shares of Conduent in the 3rd quarter valued at $100,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

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.