Conduent (NASDAQ:CNDT) Stock Price Down 5% – Here’s What Happened

Conduent Incorporated (NASDAQ:CNDT) shares fell 5% on Monday . The company traded as low as $4.19 and last traded at $4.19. 431,393 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,127,374 shares. The stock had previously closed at $4.41.

Conduent Price Performance

The company has a fifty day moving average price of $3.96 and a two-hundred day moving average price of $3.74. The firm has a market capitalization of $663.54 million, a PE ratio of 1.83 and a beta of 1.46. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CNDT. HTG Investment Advisors Inc. purchased a new position in Conduent in the 2nd quarter valued at $37,000. Algert Global LLC purchased a new stake in shares of Conduent in the second quarter valued at approximately $52,000. Oppenheimer Asset Management Inc. acquired a new position in Conduent during the second quarter worth $80,000. Paloma Partners Management Co acquired a new stake in Conduent in the third quarter valued at $100,000. Finally, Point72 DIFC Ltd boosted its position in shares of Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after purchasing an additional 15,254 shares in 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.