Conduent (NASDAQ:CNDT) Posts Earnings Results, Misses Estimates By $0.02 EPS

Conduent (NASDAQ:CNDT) issued its earnings results on Friday. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02), Zacks reports. Conduent had a net margin of 0.64% and a negative return on equity of 9.88%. The firm had revenue of $767.00 million during the quarter, compared to analyst estimates of $792.00 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The business’s quarterly revenue was down 1.8% on a year-over-year basis. Conduent updated its FY 2025 guidance to EPS.

Conduent Stock Down 19.8%

Shares of NASDAQ:CNDT traded down $0.44 during mid-day trading on Friday, hitting $1.78. 3,790,934 shares of the company traded hands, compared to its average volume of 1,129,784. The stock has a 50-day moving average price of $2.64 and a two-hundred day moving average price of $2.55. Conduent has a 12-month low of $1.72 and a 12-month high of $4.90. The stock has a market cap of $281.19 million, a P/E ratio of 44.51 and a beta of 1.39. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.81.

Hedge Funds Weigh In On Conduent

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in shares of Conduent by 106.7% in the 1st quarter. AQR Capital Management LLC now owns 740,375 shares of the company’s stock worth $1,999,000 after acquiring an additional 382,191 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after purchasing an additional 11,428 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Conduent during the first quarter valued at about $249,000. Empowered Funds LLC boosted its holdings in Conduent by 3.0% during the first quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock worth $2,333,000 after purchasing an additional 25,515 shares during the last quarter. Finally, Jane Street Group LLC grew its position in Conduent by 20.9% in the 1st quarter. Jane Street Group LLC now owns 397,856 shares of the company’s stock worth $1,074,000 after purchasing an additional 68,860 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CNDT. Singular Research raised Conduent to a “strong-buy” rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

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.