Conduent (NASDAQ:CNDT) Trading Down 4.9% – Here’s What Happened

Shares of Conduent Incorporated (NASDAQ:CNDT) traded down 4.9% during trading on Tuesday . The stock traded as low as $3.51 and last traded at $3.51. 578,823 shares traded hands during trading, a decline of 47% from the average session volume of 1,102,497 shares. The stock had previously closed at $3.69.

Conduent Stock Performance

The company has a market cap of $569.21 million, a PE ratio of 1.63 and a beta of 1.48. The stock’s 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $3.68. The company has a quick ratio of 1.75, a current 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 analysts’ consensus estimates of ($0.15) by $0.01. The company 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 last year, the business posted ($0.09) EPS. As a group, research analysts anticipate that Conduent Incorporated will post -0.45 earnings per share for the current year.

Institutional Trading of Conduent

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of Conduent by 49.0% in the first quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company’s stock valued at $485,000 after buying an additional 47,176 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Conduent by 66.9% during the 1st quarter. Russell Investments Group Ltd. now owns 103,425 shares of the company’s stock valued at $350,000 after purchasing an additional 41,450 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Conduent by 25.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,561 shares of the company’s stock worth $401,000 after buying an additional 24,839 shares during the period. Guardian Capital LP acquired a new position in Conduent in the 1st quarter worth $34,000. Finally, Quadrature Capital Ltd purchased a new position in Conduent in the 1st quarter valued at about $104,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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.