Conduent (NASDAQ:CNDT) Shares Gap Down – Should You Sell?

Conduent Incorporated (NASDAQ:CNDT) shares 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 traded.

Conduent Trading Up 11.3 %

The stock has a market cap of $670.71 million, a price-to-earnings ratio of 19.00 and a beta of 1.48. The business’s fifty day simple moving average is $3.83 and its 200 day simple moving average is $3.62. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65.

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

Institutional Investors Weigh In On Conduent

Several large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its stake in shares of Conduent by 5.4% during the third quarter. Empowered Funds LLC now owns 797,654 shares of the company’s stock valued at $3,215,000 after acquiring an additional 40,602 shares during the period. US Bancorp DE raised its holdings in shares of Conduent by 1,484.1% in the 3rd quarter. US Bancorp DE now owns 30,352 shares of the company’s stock worth $122,000 after purchasing an additional 28,436 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Conduent by 9.1% during the third quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock valued at $2,758,000 after purchasing an additional 57,183 shares during the last quarter. Creative Planning boosted its stake in shares of Conduent by 74.2% during the 3rd quarter. Creative Planning now owns 60,843 shares of the company’s stock worth $245,000 after acquiring an additional 25,912 shares in the last quarter. Finally, Point72 DIFC Ltd grew its holdings in shares of Conduent by 127.9% in the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after acquiring an additional 15,254 shares during the last quarter. 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.