Conduent Inc Stock Price, News & Analysis

Conduent (Nasdaq: CNDT) announced its plans to separate its Transportation business through a sale or spin-off. This strategic move aims to enhance shareholder value and create focused operating models tailored for the Commercial, Government, and Transportation sectors. CEO Cliff Skelton emphasized that the separation aligns with the growth profiles of each business and will eliminate any potential conglomerate discount. The Transportation division will continue providing innovative mobility solutions globally, while also maintaining Conduent's position among the top diversified outsourcing service providers.

Conduent (Nasdaq: CNDT) has been recognized as a 2021 Supplier of the Year by General Motors during its 30th annual Supplier of the Year awards in Phoenix, Arizona. This marks the second consecutive year that Conduent received this honor, which acknowledges suppliers that exceed GM's requirements with innovative technologies and high-quality services. GM recognized a total of 134 suppliers from 16 countries this year. Randall King, Conduent's President of Commercial Solutions, emphasized the company's commitment to exceeding client expectations in finance, payroll, and compliance solutions.

Conduent Transportation has renewed its contract with the Société de Transport de Montréal (STM) for three years, continuing a partnership that spans nearly two decades. This contract supports maintenance and upgrades for seven public transportation networks in Montreal and Quebec City, serving 1.7 million daily trips. The renewal includes enhancements to the OPUS fare collection system, integrating features like contactless payments and QR code validation. Conduent aims to expand its international footprint while optimizing transit systems with advanced technology.

Conduent (Nasdaq: CNDT) will showcase innovative healthcare solutions at the HIMSS 2022 Global Health Conference in Orlando from March 14-18, aimed at addressing health disparities and improving public health.

Their flagship products include CommunityVision for data analysis, Healthy Communities Institute for at-risk population identification, Care Management for patient navigation, and Maven Disease Surveillance for tracking health outbreaks.

Conduent's services aim to engage individuals in their healthcare journey and enhance operational efficiency across the health ecosystem.

Conduent Incorporated (Nasdaq: CNDT) has been recognized as a Top 15 Service & Technology Provider by Information Services Group (ISG). This ranking is based on annual contract value, case study outcomes, and positive client feedback, marking the fourth consecutive quarter of such recognition. Conduent's strategic emphasis on advanced technology and business expertise has solidified its position in the market, catering to governments and businesses globally through its Commercial, Government, and Transportation Solutions divisions.

Conduent Transportation has secured a five-and-a-half-year contract extension with the Bay Area Toll Authority (BATA) worth approximately $286 million, continuing its support until September 2027. This renewal showcases Conduent's growing presence in automated tolling, with notable operations at major bridges in San Francisco, including the Golden Gate Bridge. Despite COVID-19 challenges, Conduent tripled its workforce in San Francisco to enhance customer service for BATA. The company operates six of the ten largest toll systems in the U.S., demonstrating its leadership in road usage charging.

Conduent (NASDAQ: CNDT) reported Q4 2021 revenue of $1,048M, slightly down 0.7% YoY, and FY 2021 revenue of $4,140M, flat compared to the previous year. Adjusted EBITDA margin decreased to 10.9% in Q4 from 12.6% in Q4 2020, with full year margin at 11.8%. New business Annual Recurring Revenue (ARR) reached $111M in Q4, totaling $408M for the year. The Net ARR Activity metric was strong at $128M, reflecting growth for five consecutive quarters. Company outlook for FY 2022 anticipates revenue between $3,825M and $3,975M.

Conduent Transportation has secured three 8-year contract renewals from New York tolling authorities worth approximately $488 million to enhance E-ZPass account management and Tolls by Mail programs. These contracts reflect trust in Conduent's ability to deliver modern transportation solutions, including transaction processing and financial management systems. Additionally, Conduent plans to support New York City's first congestion pricing program pending federal approval. The company operates six of the ten largest toll systems in the U.S. and continues to enhance customer experience through technology.

Conduent (Nasdaq: CNDT) has finalized the sale of its Midas Suite of Solutions to symplr for $340 million, resulting in net proceeds of approximately $270 million for the company. These funds will be utilized for debt repayment and further investments in its business. This transaction aligns with Conduent’s strategy to maximize synergies within its portfolio to boost shareholder and client value. The company remains committed to providing healthcare solutions that enhance member experiences, automate claims, and streamline operations, serving 75% of U.S. insured patients.