Conduent (NASDAQ:CNDT) Shares Up 6.4% – Still a Buy?

Conduent Incorporated (NASDAQ:CNDT)’s stock price traded up 6.4% during mid-day trading on Monday . The stock traded as high as $4.01 and last traded at $3.97. 269,458 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,096,870 shares. The stock had previously closed at $3.73.

Conduent Trading Up 8.0 %

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $3.86 and a 200 day simple moving average of $3.67. The company has a market cap of $644.36 million, a price-to-earnings ratio of 1.75 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The company had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The firm’s quarterly 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 anticipate that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Trading of Conduent

A number of institutional investors have recently bought and sold shares of CNDT. Renaissance Technologies LLC raised its stake in shares of Conduent by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after buying an additional 520,000 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in Conduent by 163.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after acquiring an additional 942,459 shares during the last quarter. Factorial Partners LLC acquired a new stake in shares of Conduent in the second quarter valued at approximately $3,295,000. Panagora Asset Management Inc. increased its stake in shares of Conduent by 25.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after purchasing an additional 194,250 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Conduent by 59.7% during the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock worth $3,360,000 after purchasing an additional 311,579 shares during the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.