Conduent (NASDAQ:CNDT) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Conduent (NASDAQ:CNDT) announced its earnings results on Monday. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01), FiscalAI reports. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. The firm had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $702.00 million.

Conduent Stock Performance

Shares of Conduent stock opened at $1.70 on Monday. The firm has a market cap of $263.67 million, a PE ratio of -1.67 and a beta of 1.44. Conduent has a 1 year low of $1.15 and a 1 year high of $2.98. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a fifty day moving average price of $1.52 and a 200-day moving average price of $1.51.

Analysts Set New Price Targets

CNDT has been the topic of several analyst reports. Zacks Research upgraded shares of Conduent from a “hold” rating to a “strong-buy” rating in a report on Monday, July 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Friday, July 17th. Finally, Noble Financial upgraded Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Hedge Funds Weigh In On Conduent

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC raised its position in Conduent by 28,720.0% in the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after acquiring an additional 14,360 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Conduent during the 2nd quarter valued at approximately $29,000. IHT Wealth Management LLC purchased a new stake in shares of Conduent during the 2nd quarter worth approximately $34,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Conduent during the 3rd quarter worth approximately $42,000. Finally, CIBC Bancorp USA Inc. bought a new stake in shares of Conduent in the 3rd quarter worth approximately $45,000. Institutional investors own 77.28% of the company’s stock.

Conduent Company Profile

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.