Conduent (NASDAQ:CNDT) Hits New 1-Year High – Still a Buy?

Shares of Conduent Incorporated (NASDAQ:CNDT) reached a new 52-week high during trading on Friday . The stock traded as high as $4.55 and last traded at $4.52, with a volume of 447812 shares trading hands. The stock had previously closed at $4.33.

Conduent Stock Up 4.4 %

The business’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $3.73. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $722.70 million, a PE ratio of 1.99 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $807.00 million for 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%. The company’s quarterly revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) earnings per share. On average, equities research analysts forecast that Conduent Incorporated will post -0.45 earnings per share for the current year.

Institutional Trading of Conduent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of Conduent by 27.7% in the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after buying an additional 520,000 shares during the period. Factorial Partners LLC bought a new stake in shares of Conduent during the second quarter worth $3,295,000. Creative Planning boosted its stake in shares of Conduent by 74.2% during the third quarter. Creative Planning now owns 60,843 shares of the company’s stock valued at $245,000 after purchasing an additional 25,912 shares during the period. Panagora Asset Management Inc. grew its holdings in shares of Conduent by 25.0% in the second quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after purchasing an additional 194,250 shares during the last quarter. Finally, Jane Street Group LLC increased 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 worth $3,360,000 after buying an additional 311,579 shares during the period. 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.