Conduent (NASDAQ:CNDT) Shares Gap Down – What’s Next?

Conduent Incorporated (NASDAQ:CNDT)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $3.71, but opened at $3.40. Conduent shares last traded at $3.78, with a volume of 240,023 shares trading hands.

Conduent Trading Up 11.3 %

The business’s 50-day moving average is $3.83 and its two-hundred day moving average is $3.62. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $670.71 million, a PE ratio of 19.00 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. The business had revenue of $811.00 million during the quarter, compared to analyst estimates of $803.33 million. Conduent had a negative return on equity of 7.81% and a net margin of 0.88%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share. On average, analysts predict that Conduent Incorporated will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Conduent

A number of large investors have recently added to or reduced their stakes in CNDT. Guardian Capital LP acquired a new stake in Conduent during the 1st quarter valued at approximately $34,000. HTG Investment Advisors Inc. bought a new stake in shares of Conduent in the second quarter worth $37,000. Headlands Technologies LLC increased its stake in shares of Conduent by 1,084.3% in the first quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock worth $49,000 after buying an additional 13,153 shares during the last quarter. Algert Global LLC acquired a new stake in Conduent in the second quarter valued at $52,000. Finally, Williams & Novak LLC bought a new position in Conduent during the 2nd quarter valued at $65,000. 77.28% of the stock is owned by institutional investors and hedge funds.

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.