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

Conduent Inc. (NASDAQ:CNDT) shares fell 2% during trading on Thursday . The company traded as low as $1.4850 and last traded at $1.50. 586,474 shares changed hands during trading, a decline of 53% from the average session volume of 1,249,078 shares. The stock had previously closed at $1.53.

Analyst Upgrades and Downgrades

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

Conduent Stock Down 2.0%

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 firm’s 50-day moving average is $1.54 and its 200 day moving average is $1.56. The stock has a market cap of $232.65 million, a price-to-earnings ratio of -1.47 and a beta of 1.44.

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

Hedge Funds Weigh In On Conduent

Several large investors have recently modified their holdings of CNDT. Blue Owl Capital Holdings LP boosted its holdings in shares of Conduent by 8.2% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,822,422 shares of the company’s stock worth $9,259,000 after buying an additional 365,574 shares during the period. Miller Value Partners LLC raised its holdings in shares of Conduent by 38.5% during the fourth quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock valued at $10,720,000 after acquiring an additional 1,552,560 shares during the period. Alpine Global Management LLC purchased a new stake in shares of Conduent in the 4th quarter valued at approximately $82,000. AXQ Capital LP purchased a new stake in shares of Conduent in the 4th quarter valued at approximately $40,000. Finally, GatePass Capital LLC boosted its stake in Conduent by 6.1% in the 4th quarter. GatePass Capital LLC now owns 238,800 shares of the company’s stock worth $458,000 after purchasing an additional 13,700 shares during the period. Institutional investors own 77.28% of the company’s stock.

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.