Conduent (NASDAQ:CNDT) Reaches New 1-Year High – Time to Buy?

Conduent Incorporated (NASDAQ:CNDT)’s share price hit a new 52-week high 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 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 firm has a market capitalization of $705.11 million, a price-to-earnings ratio of 1.94 and a beta of 1.46. The firm’s 50-day moving average price is $3.95 and its two-hundred day moving average price is $3.74.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The company’s revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.09) EPS. Sell-side analysts predict that Conduent Incorporated will post -0.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CNDT. Factorial Partners LLC acquired a new stake in shares of Conduent during the 2nd quarter worth about $3,295,000. Jacobs Levy Equity Management Inc. grew its stake 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 buying an additional 942,459 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Conduent by 27.7% during the second 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 in the last quarter. Jane Street Group LLC raised its stake 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 acquiring an additional 311,579 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Conduent by 25.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after acquiring an additional 194,250 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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.