Conduent (NASDAQ:CNDT) Reaches New 1-Year High – Here’s Why

Shares of Conduent Incorporated (NASDAQ:CNDT) reached a new 52-week high during trading on Tuesday . The company traded as high as $4.38 and last traded at $4.36, with a volume of 356971 shares trading hands. The stock had previously closed at $4.26.

Conduent Price Performance

The firm has a market cap of $697.12 million, a P/E ratio of 1.88 and a beta of 1.46. 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 company’s 50-day moving average is $3.89 and its two-hundred day moving average is $3.69.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 12.65% and a negative return on equity of 7.94%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.09) EPS. Sell-side analysts anticipate that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Conduent

Hedge funds and other institutional investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in shares of Conduent by 10.0% during the 3rd quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock worth $477,000 after buying an additional 10,787 shares during the last quarter. Barclays PLC boosted its stake in shares of Conduent by 233.0% in the 3rd quarter. Barclays PLC now owns 271,923 shares of the company’s stock valued at $1,096,000 after purchasing an additional 190,269 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Conduent by 7.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after purchasing an additional 11,464 shares during the last quarter. Jane Street Group LLC lifted its stake in Conduent by 59.7% in the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after purchasing an additional 311,579 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Conduent by 163.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock valued at $6,125,000 after buying an additional 942,459 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

About Conduent

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.