Conduent (NASDAQ:CNDT) Trading Down 2% – What’s Next?

Conduent Inc. (NASDAQ:CNDT)’s share price dropped 2% during mid-day trading on Thursday . The stock traded as low as $1.4850 and last traded at $1.50. Approximately 586,474 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,249,078 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Buy”.

Conduent Stock Performance

The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.09. The firm has a market cap of $232.65 million, a price-to-earnings ratio of -1.47 and a beta of 1.44. The stock has a fifty day moving average price of $1.54 and a 200 day moving average price of $1.56.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. The business had revenue of $723.00 million during the quarter, compared to analysts’ expectations of $746.67 million. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. As a group, analysts predict that Conduent Inc. will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Conduent

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its stake in Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after buying an additional 5,165 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Conduent in the second quarter valued at $29,000. Modern Wealth Management LLC acquired a new position in Conduent during the third quarter worth $34,000. IHT Wealth Management LLC bought a new position in shares of Conduent during the second quarter valued at $34,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after acquiring an additional 14,360 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

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.