Conduent (NASDAQ:CNDT) Stock Price Down 5% – Should You Sell?

Conduent Incorporated (NASDAQ:CNDT)’s share price was down 5% during mid-day trading on Monday . The company traded as low as $4.19 and last traded at $4.19. Approximately 431,393 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,127,374 shares. The stock had previously closed at $4.41.

Conduent Stock Performance

The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $663.54 million, a price-to-earnings ratio of 1.83 and a beta of 1.46. The firm’s fifty day moving average price is $3.96 and its 200 day moving average price is $3.74.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share 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 analysts’ expectations 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. Analysts forecast that Conduent Incorporated will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CNDT. Renaissance Technologies LLC grew its position in shares of Conduent by 27.7% during the second quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock worth $7,804,000 after buying an additional 520,000 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Conduent by 163.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after purchasing an additional 942,459 shares in the last quarter. Factorial Partners LLC purchased a new position in Conduent in the second quarter valued at $3,295,000. Panagora Asset Management Inc. increased its holdings in shares of Conduent by 25.0% in the 2nd 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 last quarter. Finally, Jane Street Group LLC raised its position in shares of Conduent by 59.7% during the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock worth $3,360,000 after acquiring an additional 311,579 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.