Conduent (NASDAQ:CNDT) Shares Gap Up to $3.08

Conduent Incorporated (NASDAQ:CNDT)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $3.08, but opened at $3.22. Conduent shares last traded at $3.41, with a volume of 399,035 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Conduent in a research report on Wednesday, August 23rd. They issued a “hold” rating on the stock.

Conduent Stock Up 10.1 %

The firm has a 50-day simple moving average of $3.30 and a two-hundred day simple moving average of $3.32. The stock has a market cap of $738.14 million, a P/E ratio of -2.17 and a beta of 1.77. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.37.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, August 2nd. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $915.00 million for the quarter, compared to analysts’ expectations of $900.00 million. Conduent had a negative net margin of 8.71% and a positive return on equity of 3.52%. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm earned $0.03 earnings per share.

Institutional Trading of Conduent

Institutional investors and hedge funds have recently made changes to their positions in the company. Virginia Retirement Systems ET AL acquired a new position in Conduent during the second quarter valued at approximately $825,000. Nuveen Asset Management LLC raised its holdings in shares of Conduent by 49.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 675,504 shares of the company’s stock worth $2,297,000 after buying an additional 224,708 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Conduent by 1,413.7% in the second quarter. Public Employees Retirement System of Ohio now owns 139,003 shares of the company’s stock valued at $473,000 after buying an additional 129,820 shares in the last quarter. XTX Topco Ltd grew its position in Conduent by 381.7% in the second quarter. XTX Topco Ltd now owns 60,670 shares of the company’s stock valued at $206,000 after acquiring an additional 48,075 shares during the last quarter. Finally, Redwood Investment Management LLC grew its position in Conduent by 14.6% in the second quarter. Redwood Investment Management LLC now owns 1,182,885 shares of the company’s stock valued at $4,361,000 after acquiring an additional 150,713 shares during the last quarter. Institutional investors own 75.81% of the company’s stock.

About Conduent

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.