Conduent Inc Stock Price, News & Analysis

Conduent (Nasdaq: CNDT) has announced a definitive agreement to sell its Midas Suite of Solutions to symplr for $340 million in cash. The Midas suite, generating $72 million in 2020 revenue, supports approximately 2,200 healthcare facilities. This divestiture aligns with Conduent's strategy to streamline operations and enhance shareholder value, with a focus on a smooth transition for clients and team members. The transaction is set to close in the first quarter of 2022, pending regulatory approvals.

Conduent announced a new agreement with the North Dakota Department of Human Services (ND DHS) to enhance the technology for its Medicaid Management Information System (MMIS). This upgrade aims to modernize the full technology stack, improving system reliability, scalability, and security. As a trusted partner, Conduent will help ND DHS better serve over 300,000 North Dakotans. With 50 years of experience, Conduent supports Medicaid systems in various states and has achieved federal MMIS certifications.

Conduent's Maven® has been selected as the new Case and Incident Management System (CIMS) for the UK Health Security Agency (UKHSA), replacing the existing system. This transition aims to bolster public health responses following the COVID-19 pandemic. Maven will initially track acute respiratory infections, including COVID-19, with expansion planned for other diseases by winter 2022. The platform promises advanced configurability, efficient data entry, and streamlined workflows. Conduent, with nearly 40 years in public service, aims to enhance health monitoring and response capabilities.

Conduent Transportation, a division of Conduent, is set to showcase innovative transit solutions at the APTA TRANSform Conference and Expo from November 8-10, 2021, in Orlando, Florida. These technologies aim to enhance transit ridership while maintaining public health safety. Key offerings include the 3-D Detection Gate for fare evasion detection, the Holostop contactless holographic button, and the SimpliGo mobile ticketing solution. The expo serves as a platform to connect transit leaders and demonstrate advancements in fare collection and fleet management.

Conduent (NASDAQ: CNDT) reported Q3 2021 revenue of $1,038M, a slight decline of 0.3% compared to Q3 2020. Adjusted EBITDA was $130M, representing a 12.5% margin. Notably, the company achieved $344M in new business total contract value (TCV) signings for the quarter, bringing year-to-date TCV to $1,475M. The annual recurring revenue (ARR) signings were $87M, totaling $297M year-to-date. The net ARR activity metric rose by 25% from Q2 2021 to $132M. Conduent maintains an optimistic outlook for FY 2021 revenues between $4,100M and $4,175M.

Conduent (NASDAQ: CNDT) has been recognized as a 'Leader' in the 2021 ISG Provider Lens™ Contact Center – Customer Experience Services Global report by Information Services Group (ISG). The report evaluated 28 companies and identified Conduent as a leader in all four categories: Digital Operations, AI/Analytics, Work from Home, and Social Media CX. ISG commended Conduent for its innovative solutions and strong market positioning, highlighting its commitment to customer experience and its effective transition to next-generation CX solutions.