Conduent (NASDAQ:CNDT) Trading Down 4.9% – Should You Sell?

Conduent Incorporated (NASDAQ:CNDT) dropped 4.9% during trading on Tuesday . The stock traded as low as $3.51 and last traded at $3.51. Approximately 578,823 shares were traded during trading, a decline of 47% from the average daily volume of 1,102,497 shares. The stock had previously closed at $3.69.

Conduent Stock Performance

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 has a market cap of $583.60 million, a price-to-earnings ratio of 1.61 and a beta of 1.48. The company has a 50 day simple moving average of $3.87 and a 200 day simple moving average of $3.68.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. ClariVest Asset Management LLC increased its stake in shares of Conduent by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after buying an additional 5,464 shares during the period. Diversified Trust Co increased its stake in shares of Conduent by 12.4% in the second quarter. Diversified Trust Co now owns 57,156 shares of the company’s stock valued at $186,000 after buying an additional 6,290 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Conduent by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company’s stock valued at $456,000 after buying an additional 7,890 shares during the period. Guardian Capital LP acquired a new stake in Conduent during the 1st quarter valued at approximately $34,000. Finally, Public Employees Retirement System of Ohio increased its position in Conduent by 7.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after purchasing an additional 11,464 shares during the period. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Company Profile

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.