Conduent (NASDAQ:CNDT) Shares Gap Up – Should You Buy?

Conduent Incorporated (NASDAQ:CNDT) gapped up prior to trading on Tuesday . The stock had previously closed at $3.74, but opened at $3.84. Conduent shares last traded at $3.85, with a volume of 56,287 shares trading hands.

Conduent Price Performance

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 stock’s 50 day simple moving average is $3.87 and its 200 day simple moving average is $3.67. The firm has a market cap of $615.58 million, a P/E ratio of 1.70 and a beta of 1.48.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating 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 business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. During the same quarter in the previous year, the business earned ($0.09) EPS. The company’s quarterly revenue was down 13.4% on a year-over-year basis. Research analysts anticipate that Conduent Incorporated will post -0.45 EPS for the current year.

Institutional Trading of Conduent

Hedge funds have recently added to or reduced their stakes in the stock. Factorial Partners LLC purchased a new position in shares of Conduent during the 2nd quarter valued at $3,295,000. Jacobs Levy Equity Management Inc. lifted its holdings in Conduent by 163.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock valued at $6,125,000 after purchasing an additional 942,459 shares during the last quarter. Ancora Advisors LLC bought a new position in Conduent during the first quarter worth about $1,957,000. Renaissance Technologies LLC increased its stake in shares of Conduent by 27.7% in the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after purchasing an additional 520,000 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Conduent by 59.7% in the third quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after purchasing an additional 311,579 shares during the period. Institutional investors 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.