Conduent (NASDAQ:CNDT) Shares Up 6.4% – Here’s Why

Conduent Incorporated (NASDAQ:CNDT) shot up 6.4% during trading on Monday . The stock traded as high as $4.01 and last traded at $3.97. 269,458 shares changed hands during trading, a decline of 75% from the average session volume of 1,096,870 shares. The stock had previously closed at $3.73.

Conduent Price Performance

The firm has a market capitalization of $644.36 million, a PE ratio of 1.75 and a beta of 1.48. The firm’s fifty day moving average price is $3.86 and its 200 day moving average price is $3.67. 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 data on Wednesday, November 6th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.01. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, equities analysts forecast that Conduent Incorporated will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On Conduent

Large investors have recently bought and sold shares of the business. HTG Investment Advisors Inc. acquired a new position in shares of Conduent during the 2nd quarter worth approximately $37,000. Algert Global LLC purchased a new stake in shares of Conduent in the 2nd quarter valued at about $52,000. Williams & Novak LLC acquired a new stake in Conduent during the 2nd quarter worth $65,000. Lazard Asset Management LLC acquired a new position in shares of Conduent in the first quarter valued at approximately $79,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Conduent in the second quarter valued at about $80,000. Institutional investors and hedge funds 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.