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

Conduent Incorporated (NASDAQ:CNDT)’s stock price fell 4.9% on Tuesday . The company traded as low as $3.51 and last traded at $3.51. 578,823 shares traded hands during trading, a decline of 47% from the average session volume of 1,102,497 shares. The stock had previously closed at $3.69.

Conduent Price Performance

The firm has a market cap of $583.60 million, a price-to-earnings ratio of 1.61 and a beta of 1.48. The business’s 50-day simple moving average is $3.87 and its two-hundred day simple moving average is $3.68. 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 earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.09) EPS. As a group, research analysts expect that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Trading of Conduent

Several large investors have recently modified their holdings of the stock. Barclays PLC grew its position in shares of Conduent by 233.0% during the 3rd quarter. Barclays PLC now owns 271,923 shares of the company’s stock worth $1,096,000 after buying an additional 190,269 shares during the period. Public Employees Retirement System of Ohio grew its position in Conduent by 7.8% in 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. Jane Street Group LLC grew its position in Conduent by 59.7% in the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after purchasing an additional 311,579 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Conduent by 163.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock valued at $6,125,000 after purchasing an additional 942,459 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Conduent in the 3rd quarter valued at $100,000. Institutional investors and hedge funds 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.