Conduent (NASDAQ:CNDT) Reaches New 52-Week High – Should You Buy?

Conduent Incorporated (NASDAQ:CNDT)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $4.23 and last traded at $4.20, with a volume of 301238 shares. The stock had previously closed at $4.10.

Conduent Price Performance

The stock has a market capitalization of $682.73 million, a price-to-earnings ratio of 1.89 and a beta of 1.48. The business has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $3.66. 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 released its earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same period in the previous year, the company earned ($0.09) earnings per share. Conduent’s revenue was down 13.4% compared to the same quarter last year. As a group, research analysts predict that Conduent Incorporated will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conduent

Institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Conduent during the first quarter valued at $276,000. Renaissance Technologies LLC lifted its stake in Conduent by 27.7% during the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after buying an additional 520,000 shares in the last quarter. Factorial Partners LLC acquired a new position in shares of Conduent in the second quarter worth about $3,295,000. Jacobs Levy Equity Management Inc. increased its position in shares of Conduent by 198.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock worth $2,582,000 after acquiring an additional 508,012 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in shares of Conduent by 25.0% during the second quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock valued at $3,165,000 after acquiring an additional 194,250 shares during the period. 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.