Conduent (NASDAQ:CNDT) Reaches New 1-Year High – Should You Buy?

Conduent Incorporated (NASDAQ:CNDT) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $4.90 and last traded at $4.44, with a volume of 1398445 shares traded. The stock had previously closed at $3.94.

Conduent Stock Performance

The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a fifty day simple moving average of $4.07 and a two-hundred day simple moving average of $3.88. The stock has a market cap of $706.71 million, a PE ratio of 1.95 and a beta of 1.42.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate 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 negative return on equity of 7.94% and a net margin of 12.65%. The business’s revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) earnings per share. Equities analysts anticipate that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

Several hedge funds have recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. increased its stake in shares of Conduent by 163.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock valued at $6,125,000 after buying an additional 942,459 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Conduent by 174.4% during the third quarter. JPMorgan Chase & Co. now owns 513,129 shares of the company’s stock worth $2,068,000 after purchasing an additional 326,118 shares during the period. Jane Street Group LLC boosted its holdings in shares of Conduent by 59.7% in the third quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after buying an additional 311,579 shares during the period. Raymond James Financial Inc. bought a new position in Conduent during the 4th quarter worth about $797,000. Finally, Barclays PLC grew its holdings in shares of Conduent by 233.0% during the third quarter. Barclays PLC now owns 271,923 shares of the company’s stock worth $1,096,000 after buying an additional 190,269 shares in the last quarter. 77.28% of the stock is 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.