Conduent Incorporated (NASDAQ:CNDT - Get Free Report)'s share price gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $4.39, but opened at $3.87. Conduent shares last traded at $4.02, with a volume of 714,970 shares traded.
The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a negative return on equity of 7.94% and a net margin of 12.65%.
Institutional Trading of Conduent
Large investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management lifted its stake in Conduent by 288.7% in the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company's stock valued at $35,000 after buying an additional 6,524 shares during the period. SilverOak Wealth Management LLC bought a new position in shares of Conduent during the 4th quarter worth approximately $53,000. Bailard Inc. bought a new position in shares of Conduent during the 4th quarter worth approximately $58,000. Cibc World Markets Corp acquired a new stake in Conduent during the 4th quarter worth approximately $60,000. Finally, Zacks Investment Management acquired a new stake in Conduent during the 4th quarter worth approximately $82,000. 77.28% of the stock is currently owned by institutional investors.
Conduent Price Performance
The stock has a market capitalization of $671.54 million, a price-to-earnings ratio of 1.85 and a beta of 1.41. 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 company has a fifty day simple moving average of $4.10 and a two-hundred day simple moving average of $3.89.
About Conduent
(
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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.
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