Conduent (NASDAQ:CNDT) Stock Price Up 2.9% – What’s Next?

Shares of Conduent Inc. (NASDAQ:CNDT) rose 2.9% during mid-day trading on Monday . The company traded as high as $1.5150 and last traded at $1.44. Approximately 2,040,745 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 1,372,070 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

CNDT has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Conduent Stock Up 3.7%

The company has a market capitalization of $241.18 million, a PE ratio of -1.38 and a beta of 1.24. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.57 and a current ratio of 1.57. The stock’s 50 day moving average is $1.38 and its 200 day moving average is $1.85.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, sell-side analysts anticipate that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Hernandez Margarita Palau acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was bought at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at $72,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Fucci acquired 60,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was purchased at an average price of $1.44 per share, with a total value of $86,400.00. Following the completion of the transaction, the director directly owned 166,102 shares of the company’s stock, valued at $239,186.88. This trade represents a 56.55% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 337,099 shares of company stock worth $499,974. 2.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Conduent

Large investors have recently modified their holdings of the company. FNY Investment Advisers LLC boosted its position in shares of Conduent by 89.7% in the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after acquiring an additional 5,165 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Conduent in the second quarter valued at approximately $29,000. Modern Wealth Management LLC bought a new position in shares of Conduent in the third quarter valued at approximately $34,000. IHT Wealth Management LLC bought a new position in shares of Conduent in the second quarter valued at approximately $34,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in shares of Conduent in the third quarter valued at approximately $39,000. 77.28% of the stock is currently owned by institutional investors.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.