Conduent Inc Stock Research

Market Summary

USD3.20-0.05

Market Closed

-1.54%

CNDT Alerts

Big fall in earnings (Y/Y)
Losses in recent quarter

CNDT Stock Price

CNDT RSI Chart

CNDT Valuation

Market Cap

698.7M

Price/Earnings (Trailing)

-3.84

Price/Sales (Trailing)

0.18

EV/EBITDA

0.62

Price/Free Cashflow

13.44

CNDT Price/Sales (Trailing)

CNDT Profitability

EBT Margin

-3.29%

Return on Equity

-19.85%

Return on Assets

-5.1%

Free Cashflow Yield

7.44%

CNDT Fundamentals

CNDT Revenue

Revenue (TTM)

3.9B

Revenue Y/Y

-5.92%

Revenue Q/Q

0.92%

CNDT Earnings

Earnings (TTM)

-182.0M

Earnings Y/Y

-732.5%

Earnings Q/Q

-2.3K%

Price Action

52 Week Range

3.135.89

(Low)(High)

Last 7 days

-4.8%

Last 30 days

-21.9%

Last 90 days

-22.5%

Trailing 12 Months

-34.7%

CNDT Financial Health

Current Ratio

1.76

Debt/Equity

1.13

Debt/Cashflow

0.1

CNDT Investor Care

Shares Dilution (1Y)

1.38%

Diluted EPS (TTM)

-0.89

Peers (Alternatives to Conduent)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
MA	339.3B	22.2B	-0.94%	0.95%	34.17	15.26	17.76%	14.31%
ACN	171.4B	62.4B	0.88%	-15.46%	24.31	2.75	16.08%	13.77%
FIS	30.1B	14.5B	-25.85%	-48.21%	-1.8	2.07	4.69%	-4109.59%
GPN	25.9B	9.0B	-13.61%	-26.91%	232.26	2.89	5.30%	-88.45%
AKAM	11.9B	3.6B	-1.04%	-35.21%	22.73	3.29	4.49%	-19.64%
MID-CAP
WEX	7.3B	2.4B	-10.83%	-5.34%	43.59	3.1	27.02%	23.58%
EXLS	5.1B	1.4B	-9.92%	11.51%	35.62	3.61	25.82%	24.58%
MMS	4.6B	4.7B	-9.59%	2.96%	23.95	0.96	6.04%	-32.08%
WU	4.1B	4.5B	-19.26%	-40.61%	4.45	0.91	-11.74%	13.01%
SMALL-CAP
MGI	1.0B	1.3B	-2.77%	-0.75%	29.72	0.78	2.06%	190.24%
CNDT	698.7M	3.9B	-21.95%	-34.69%	-3.84	0.18	-6.81%	-550.00%
CASS	611.3M	182.5M	-8.73%	20.64%	17.51	3.35	18.38%	22.02%
IIIV	539.3M	330.0M	-3.93%	-10.67%	-30.16	1.63	30.19%	-260.46%

Financials for Conduent

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-1.6%	3,858	3,920	3,981	4,079	4,140
S&GA Expenses	-10.9%	440	494	508	520	544
R&D Expenses	16.7%	7.00	6.00	6.00	5.00	4.00
EBITDA	-63.7%	187	515	531	573	-
EBITDA Margin	-63.1%	0.05*	0.13*	0.13*	0.14*	-
Earnings Before Taxes	-169.0%	-127	184	180	194	-25.00
EBT Margin	-170.1%	-0.03*	0.05*	0.05*	0.05*	-
Interest Expenses	10.5%	84.00	76.00	66.00	61.00	55.00
Net Income	-264.0%	-182	111	107	119	-28.00
Net Income Margin	-266.6%	-0.05*	0.03*	0.03*	0.03*	-
Free Cahsflow	-40.9%	52.00	88.00	43.00	156	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-8.9%	3,571	3,921	3,900	3,979	4,036
Current Assets	-1.0%	1,625	1,641	1,597	1,643	1,680
Cash Equivalents	0.9%	582	577	519	588	415
Net PPE	-0.4%	262	263	272	281	-
Goodwill	-25.7%	955	1,286	1,310	1,335	1,339
Liabilities	-2.4%	2,512	2,573	2,533	2,575	2,762
Current Liabilities	-1.1%	923	933	895	926	1,025
LT Debt, Current	6.1%	35.00	33.00	30.00	30.00	30.00
Shareholder's Equity	-24.0%	917	1,206	1,225	1,262	1,132
Retained Earnings	-15.2%	-2,543	-2,207	-2,220	-2,217	-2,351
Additional Paid-In Capital	0%	3,924	3,924	3,918	3,912	3,910
Shares Outstanding	1.2%	218	216	216	216	215

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-19.1%	144	178	135	256	243
Share Based Compensation	-4.5%	21.00	22.00	21.00	20.00	21.00
Cashflow From Investing	1.2%	173	171	169	160	-142
Cashflow From Financing	13.8%	-131	-152	-166	-217	-132

Risks for CNDT

What is the probability of a big loss on CNDT?

86.9%

Probability that Conduent stock will be more than 20% underwater in next one year

79.6%

Probability that Conduent stock will be more than 30% underwater in next one year.

70.4%

Probability that Conduent stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does CNDT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Conduent was unfortunately bought at previous high price.

Drawdowns

Returns for CNDT

Cumulative Returns on CNDT

-30.0%

5-Year Cumulative Returns

18.6%

3-Year Cumulative Returns

What are the long-term rolling returns for CNDT?

FIve years rolling returns for Conduent.

Annualized Returns

Which funds bought or sold CNDT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-90.36	-8,001,350	1,059,650	-%
2023-03-06	Rockefeller Capital Management L.P.	reduced	-62.5	-	-	-%
2023-03-02	LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA	new	-	1,106	1,106	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	46,551	269,551	-%
2023-02-24	SRS Capital Advisors, Inc.	new	-	122	122	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	263	1,263	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-29,000	-	-%
2023-02-17	Coppell Advisory Solutions Corp.	new	-	8.00	8.00	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	166	166	-%
2023-02-15	B. Riley Asset Management, LLC	new	-	1,030,720	1,030,720	0.46%

Latest Funds Activity

Are funds buying CNDT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own CNDT

No. of Funds

Conduent News

Schedule 13G FIlings of Conduent

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	8.72%	18,823,097	SC 13G/A
Jan 30, 2023	blackrock inc.	7.8%	16,917,368	SC 13G/A
Feb 11, 2022	neuberger berman group llc	6.28%	13,361,651	SC 13G
Feb 09, 2022	vanguard group inc	7.63%	16,235,669	SC 13G/A
Feb 03, 2022	blackrock inc.	7.5%	15,866,595	SC 13G/A
Feb 16, 2021	deason darwin	5.8%	12,320,307	SC 13D/A
Feb 10, 2021	vanguard group inc	7.26%	15,194,959	SC 13G/A
Jan 29, 2021	blackrock inc.	5.9%	12,272,689	SC 13G/A
Aug 18, 2020	icahn carl c	-	0	SC 13D/A
Feb 12, 2020	vanguard group inc	7.46%	15,774,277	SC 13G/A

CNDT Fair Value

Conduent fair value in different scenarios

The table shows the Fair Value estimates for Conduent for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	1.30 -59.38%	1.77 -44.69%	2.64 -17.50%	4.28 33.75%	5.83 82.19%
Current Inflation	1.28 -60.00%	1.73 -45.94%	2.55 -20.31%	4.06 26.87%	5.49 71.56%
Very High Inflation	1.26 -60.62%	1.68 -47.50%	2.44 -23.75%	3.79 18.44%	5.07 58.44%

Historical Conduent Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Conduent

View All Filings

Date Filed	Form Type	Document
Feb 22, 2023	10-K	Annual Report
Feb 14, 2023	8-K	Current Report
Feb 10, 2023	SC 13G/A	Major Ownership Report
Feb 09, 2023	SC 13G/A	Major Ownership Report
Jan 30, 2023	SC 13G/A	Major Ownership Report
Jan 20, 2023	4/A	Insider Trading
Jan 20, 2023	4/A	Insider Trading
Jan 20, 2023	4/A	Insider Trading
Jan 20, 2023	4/A	Insider Trading
Jan 18, 2023	4	Insider Trading

Latest Insider Trading transactions for CNDT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-15	LYNN JESSE	acquired	190,004	4.65	40,861	-
2023-01-15	GARY HUNTER CLARK	acquired	190,004	4.65	40,861	-
2023-01-15	Palau Hernandez Margarita	acquired	246,004	4.65	52,904	-
2023-01-15	Miller Steven D	acquired	190,004	4.65	40,861	-
2023-01-15	Letier A. Scott	acquired	303,501	4.65	65,269	-
2023-01-15	Montelongo Michael	acquired	190,004	4.65	40,861	-
2023-01-15	HIGGINS VICTOR KATHY J	acquired	190,004	4.65	40,861	-
2022-12-31	Skelton Clifford	sold (taxes)	-774,733	4.05	-191,292	president and ceo
2022-12-31	KRAWITZ MICHAEL E	sold (taxes)	-93,340	4.05	-23,047	evp, gc & secretary
2022-12-31	Keyes Louis Edward	sold (taxes)	-102,611	4.05	-25,336	evp, transportation solutions

About Conduent

Clifford A. Skelton

www.conduent.com

60000

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. The Government Services segment provides government-centric business process services to the United States federal, state, local, and foreign governments for public assistance, program administration, transaction processing, and payment services; medical management and fiscal agent care management services; and government healthcare, payment solutions, child support, and federal services. The Transportation segment offers systems and support comprising mission-critical mobility and payment solutions to government clients. This segment also provides electronic tolling, urban congestion management, and mileage-based user solutions; transit solutions; citation and permit administration, parking enforcement, and curbside demand management solutions; and computer-aided dispatch/automatic vehicle location solutions. Conduent Incorporated was founded in 2016 and is headquartered in Florham Park, New Jersey.

CNDT Income Statement

2022-12-31

Consolidated Statements of Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues	$ 3,858	$ 4,140	$ 4,163
Operating Costs and Expenses
Cost of services (excluding depreciation and amortization)	3,018	3,138	3,209
Selling, general and administrative (excluding depreciation and amortization)	440	544	468
Research and development (excluding depreciation and amortization)	7	4	1
Depreciation and amortization	230	352	459
Restructuring and related costs	39	45	67
Interest expense	84	55	60
Loss on extinguishment of debt	0	15	0
Goodwill impairment	358	0	0
(Gain) loss on divestitures and transaction costs, net	(158)	3	17
Litigation settlements (recoveries), net	(32)	3	20
Other (income) expenses, net	(1)	6	1
Total Operating Costs and Expenses	3,985	4,165	4,302
Income (Loss) Before Income Taxes	(127)	(25)	(139)
Income tax expense (benefit)	55	3	(21)
Net Income (Loss)	$ (182)	$ (28)	$ (118)
Basic (in dollars per share)	$ (0.89)	$ (0.18)	$ (0.61)
Diluted (in dollars per share)	$ (0.89)	$ (0.18)	$ (0.61)

CNDT Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) shares in Thousands, $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 582	$ 415
Accounts receivable, net	630	699
Assets held for sale	0	184
Contract assets	171	154
Other current assets	242	228
Total current assets	1,625	1,680
Land, buildings and equipment, net	266	281
Operating lease right-of-use assets	197	231
Intangible assets, net	39	52
Goodwill	955	1,339
Other long-term assets	489	453
Total Assets	3,571	4,036
Liabilities and Equity
Current portion of long-term debt	35	30
Accounts payable	228	198
Accrued compensation and benefits costs	197	243
Unearned income	81	82
Liabilities held for sale	0	29
Other current liabilities	382	443
Total current liabilities	923	1,025
Long-term debt	1,277	1,383
Deferred taxes	83	75
Operating lease liabilities	160	184
Other long-term liabilities	69	95
Total Liabilities	2,512	2,762
Contingencies (See Note 16)
Series A convertible preferred stock	142	142
Common stock	2	2
Additional paid-in capital	3,924	3,910
Retained earnings (deficit)	(2,543)	(2,351)
Accumulated other comprehensive loss	(466)	(429)
Total Equity	917	1,132
Total Liabilities and Equity	$ 3,571	$ 4,036
Shares of common stock issued and outstanding (in shares)	218,348	215,381
Shares of Series A convertible preferred stock and outstanding (in shares)	120	120