Conduent (NASDAQ:CNDT) Reaches New 52-Week High – Still a Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $4.55 and last traded at $4.52, with a volume of 447812 shares trading hands. The stock had previously closed at $4.33.

Conduent Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a fifty day moving average of $3.94 and a two-hundred day moving average of $3.73. The stock has a market capitalization of $722.70 million, a P/E ratio of 1.99 and a beta of 1.46.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ClariVest Asset Management LLC raised its position in shares of Conduent by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after purchasing an additional 5,464 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Conduent by 10.0% in the 3rd quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock valued at $477,000 after acquiring an additional 10,787 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of 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 acquiring an additional 11,464 shares during the period. HTG Investment Advisors Inc. acquired a new stake in Conduent during the 2nd quarter worth about $37,000. Finally, Point72 DIFC Ltd grew its stake in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock valued at $89,000 after purchasing an additional 15,254 shares during the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.