Conduent (NASDAQ:CNDT) Sets New 1-Year High – Here’s What Happened

Conduent Incorporated (NASDAQ:CNDT) hit a new 52-week high during trading on Monday . The company traded as high as $4.23 and last traded at $4.20, with a volume of 301238 shares. The stock had previously closed at $4.10.

Conduent Price Performance

The stock has a market capitalization of $682.73 million, a PE ratio of 1.89 and a beta of 1.48. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The stock’s 50-day moving average is $3.86 and its 200 day moving average is $3.66.

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

Hedge Funds Weigh In On Conduent

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