Conduent (NASDAQ:CNDT) Reaches New 52-Week High – Here’s What Happened

Conduent Incorporated (NASDAQ:CNDT) shares hit 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 changing hands. The stock had previously closed at $3.94.

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 market capitalization of $706.71 million, a price-to-earnings ratio of 1.95 and a beta of 1.42. The stock has a 50 day moving average price of $4.07 and a two-hundred day moving average price of $3.88.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data 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. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $817.33 million. During the same quarter last year, the business posted ($0.09) EPS. The business’s quarterly revenue was down 13.4% compared to the same quarter last year. As a group, analysts expect that Conduent Incorporated will post -0.45 EPS for the current year.

Institutional Investors Weigh In On Conduent

A number of hedge funds have recently added to or reduced their stakes in CNDT. Squarepoint Ops LLC grew its position in Conduent by 266.7% during the second quarter. Squarepoint Ops LLC now owns 128,068 shares of the company’s stock worth $418,000 after buying an additional 93,143 shares during the period. AQR Capital Management LLC grew its holdings in shares of Conduent by 18.3% in the 2nd quarter. AQR Capital Management LLC now owns 134,256 shares of the company’s stock worth $438,000 after acquiring an additional 20,735 shares during the period. Algert Global LLC purchased a new position in Conduent in the 2nd quarter valued at approximately $52,000. Creative Planning raised its holdings in Conduent by 74.2% during the third quarter. Creative Planning now owns 60,843 shares of the company’s stock worth $245,000 after purchasing an additional 25,912 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Conduent by 9.1% during the third quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock worth $2,758,000 after purchasing an additional 57,183 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

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.