Conduent (NASDAQ:CNDT) Shares Gap Up to $3.06

Conduent Incorporated (NASDAQ:CNDT) gapped up prior to trading on Monday . The stock had previously closed at $3.06, but opened at $3.22. Conduent shares last traded at $3.16, with a volume of 683,642 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Noble Financial assumed coverage on Conduent in a report on Thursday, March 14th. They issued an “outperform” rating and a $9.00 price objective on the stock. StockNews.com lowered shares of Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th.

Conduent Trading Down 4.5 %

The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97. The firm has a market cap of $657.23 million, a price-to-earnings ratio of -2.25 and a beta of 1.59. The company has a fifty day moving average price of $3.28 and a 200-day moving average price of $3.29.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $953.00 million during the quarter, compared to the consensus estimate of $930.00 million. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. As a group, research analysts expect that Conduent Incorporated will post 1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNDT. Diversified Trust Co increased its position in shares of Conduent by 9.2% in the first quarter. Diversified Trust Co now owns 50,866 shares of the company’s stock valued at $172,000 after buying an additional 4,306 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Conduent by 5.8% in the 3rd quarter. Hsbc Holdings PLC now owns 124,397 shares of the company’s stock worth $433,000 after buying an additional 6,847 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Conduent by 39.2% in the 3rd quarter. Principal Financial Group Inc. now owns 25,470 shares of the company’s stock worth $89,000 after buying an additional 7,174 shares during the last quarter. Dynamic Advisor Solutions LLC purchased a new stake in Conduent during the 4th quarter worth approximately $36,000. Finally, Moody National Bank Trust Division raised its holdings in shares of Conduent by 22.2% during the fourth quarter. Moody National Bank Trust Division now owns 67,798 shares of the company’s stock valued at $247,000 after acquiring an additional 12,314 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

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.