Conduent (NASDAQ:CNDT) Shares Gap Up – Still a Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price gapped up prior to trading on Friday . The stock had previously closed at $4.05, but opened at $4.24. Conduent shares last traded at $3.98, with a volume of 245,370 shares traded.

Conduent Stock Down 3.2 %

The firm has a 50 day moving average price of $3.88 and a two-hundred day moving average price of $3.67. The firm has a market capitalization of $626.77 million, a price-to-earnings ratio of 1.78 and a beta of 1.48. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Conduent during the 1st quarter worth $219,000. BNP Paribas Financial Markets increased its position in shares of Conduent by 49.0% during the first quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company’s stock worth $485,000 after acquiring an additional 47,176 shares during the last quarter. Headlands Technologies LLC lifted 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 acquiring an additional 13,153 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Conduent by 66.9% in the first quarter. Russell Investments Group Ltd. now owns 103,425 shares of the company’s stock valued at $350,000 after purchasing an additional 41,450 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Conduent by 25.4% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,561 shares of the company’s stock valued at $401,000 after purchasing an additional 24,839 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

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.