Conduent (NASDAQ:CNDT) Shares Gap Up – Should You Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $3.74, but opened at $3.84. Conduent shares last traded at $3.85, with a volume of 56,287 shares traded.

Conduent Stock Down 3.4 %

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 business has a 50 day simple moving average of $3.87 and a 200 day simple moving average of $3.67. The company has a market capitalization of $591.59 million, a price-to-earnings ratio of 1.62 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. Conduent’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period last year, the firm earned ($0.09) earnings per share. As a group, equities analysts predict that Conduent Incorporated will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Conduent

Several hedge funds have recently made changes to their positions in CNDT. HTG Investment Advisors Inc. purchased a new position in shares of Conduent during the second quarter worth about $37,000. Algert Global LLC purchased a new position in shares of Conduent during the second quarter worth about $52,000. Williams & Novak LLC purchased a new position in shares of Conduent during the second quarter worth about $65,000. Lazard Asset Management LLC purchased a new position in shares of Conduent during the first quarter worth about $79,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Conduent in the second quarter valued at about $80,000. Hedge funds and other 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.