Conduent (NASDAQ:CNDT) Trading 8.8% Higher

Conduent Incorporated (NASDAQ:CNDT - Get Free Report)'s stock price rose 8.8% on Friday . The company traded as high as $3.59 and last traded at $3.59. Approximately 324,398 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 1,106,123 shares. The stock had previously closed at $3.30.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Conduent from a "buy" rating to a "hold" rating in a research note on Tuesday, May 28th.

Conduent Price Performance

The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.54. The business's fifty day moving average is $3.48 and its 200 day moving average is $3.44. The firm has a market capitalization of $744.68 million, a P/E ratio of -3.97 and a beta of 1.51.

Conduent (NASDAQ:CNDT - Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.14. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.50%. The business had revenue of $811.00 million for the quarter, compared to the consensus estimate of $803.33 million. During the same period in the previous year, the firm earned $0.01 EPS. The business's revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts forecast that Conduent Incorporated will post -0.72 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Carl C. Icahn sold 38,149,336 shares of the business's stock in a transaction that occurred on Saturday, June 8th. The shares were sold at an average price of $3.47, for a total transaction of $132,378,195.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.84% of the company's stock.

Institutional Investors Weigh In On Conduent

A number of large investors have recently made changes to their positions in the company. Guardian Capital LP acquired a new position in Conduent in the 1st quarter valued at approximately $34,000. HTG Investment Advisors Inc. acquired a new position in Conduent in the 2nd quarter valued at approximately $37,000. Vestmark Advisory Solutions Inc. acquired a new position in Conduent in the 4th quarter valued at approximately $48,000. Headlands Technologies LLC increased its stake in Conduent by 1,084.3% in the 1st quarter. Headlands Technologies LLC now owns 14,366 shares of the company's stock valued at $49,000 after buying an additional 13,153 shares during the period. Finally, Algert Global LLC acquired a new position in Conduent in the 2nd quarter valued at approximately $52,000. 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.