Conduent (NASDAQ:CNDT) Trading Up 6.4% – Still a Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price 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 company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. The business’s fifty day simple moving average is $3.87 and its 200 day simple moving average is $3.67. The stock has a market cap of $652.35 million, a price-to-earnings ratio of 1.80 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last issued its earnings results 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. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The business had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. Research analysts predict that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its position in Conduent by 27.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after purchasing an additional 520,000 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Conduent by 163.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after buying an additional 942,459 shares in the last quarter. Factorial Partners LLC acquired a new stake in Conduent in the 2nd quarter valued at approximately $3,295,000. Panagora Asset Management Inc. raised its stake in Conduent by 25.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock valued at $3,165,000 after acquiring an additional 194,250 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Conduent by 59.7% during the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock worth $3,360,000 after acquiring an additional 311,579 shares during the period. 77.28% of the stock is currently owned by institutional investors.

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.