Conduent (NASDAQ:CNDT) Sets New 52-Week High – Here’s What Happened

Conduent Incorporated (NASDAQ:CNDT)’s stock price hit a new 52-week high on Friday . The company traded as high as $4.55 and last traded at $4.52, with a volume of 447812 shares changing hands. The stock had previously closed at $4.33.

Conduent Price Performance

The stock has a fifty day moving average of $3.95 and a 200-day moving average of $3.74. The firm has a market capitalization of $705.11 million, a P/E ratio of 1.94 and a beta of 1.46. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HTG Investment Advisors Inc. bought a new stake in shares of Conduent during the second quarter worth $37,000. Algert Global LLC acquired a new stake in Conduent in the second quarter worth about $52,000. Oppenheimer Asset Management Inc. bought a new stake in Conduent during the 2nd quarter worth about $80,000. Point72 DIFC Ltd lifted its position in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock valued at $89,000 after purchasing an additional 15,254 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Conduent in the 3rd quarter valued at about $100,000. 77.28% of the stock is currently owned by institutional investors.

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.