Conduent Inc Stock Price, News & Analysis

Conduent (Nasdaq: CNDT) has implemented a new cloud-based system to enhance child support payment processing for over 31,000 families in New Hampshire. The upgrade, part of a 10-year contract renewal, transitions the State Disbursement Unit (SDU) from a data center to a cloud solution, increasing efficiency and reliability. It introduces features for payments via PayPal and plans for digital options like Venmo and Apple Pay. With over 30 years in child support operations, Conduent processes about $11 billion annually, serving as a key partner in improving financial stability for families.

Conduent (Nasdaq: CNDT) will showcase its end-to-end eDiscovery solutions at Legalweek, March 20-23, 2023, at New York Hilton Midtown, booth #3118. Their solutions, including Viewpoint—a centralized platform enhancing litigation management—are designed to assist legal teams in efficiently handling large data sets during legal processes. Senior Director Sal Mancuso highlighted the increasing challenges from litigation and cyber incidents, emphasizing Conduent's commitment to applying advanced technology for effective data processing. Their offerings aim to streamline workflows and deliver critical information timely, potentially leading to significant cost reductions for clients.

Conduent (Nasdaq: CNDT) will hold a virtual Investor Briefing on March 30, 2023, from 11:00 a.m. to 1:00 p.m. ET. The briefing will highlight the company’s growth plans, portfolio optimization, and expected financial outlook.

Key executives, including Cliff Skelton (CEO) and Steve Wood (CFO), will present. The event will be available via live-stream and on the company’s investor relations website. Dial-in options are available for those who prefer to participate by phone. Conduent, which serves many Fortune 100 companies and government entities, focuses on delivering innovative digital solutions and services that enhance customer experiences and operational efficiencies.

Conduent Transportation will showcase its innovative 3D Fare Gate Solution at the Transport Ticketing Global conference in London on March 7-8, 2023. This solution enhances traveler access while combating ticketing fraud through advanced 3D optical sensors. It also offers transit authorities essential reporting and analytics to monitor fare evasion effectively. Additionally, Conduent will present its VPE 430 and VPE 230 Validators, both designed to integrate seamlessly with existing ticketing systems. The 3D Fare Gate is a finalist for the 2023 Transport Ticketing Awards.

Conduent has released findings from a survey of over 400 professionals, revealing that while more than 80% acknowledge the benefits of intelligent automation, many organizations face barriers in implementation.

Key findings include that 50% noted inefficiencies due to too many manual processes, and 40% cited convoluted workflows. The survey highlighted significant advantages of automation, including improved service levels (85%) and data accuracy (84%). Conduent emphasizes the importance of partnering with experienced firms for successful automation deployment, stressing that businesses should prioritize process transformation over merely adopting technology.

Conduent (Nasdaq: CNDT) has been selected by Virgin Atlantic to enhance customer experience management (CXM) by managing rebookings and providing support during flight changes and cancellations. This collaboration aims to bolster customer satisfaction, leveraging Conduent's expertise in the travel sector. The CXM teams will primarily assist customers in the UK and US, with potential service expansions anticipated. Conduent’s CXM services include support in 20 languages and over one billion customer interactions annually. With a workforce of around 60,000, Conduent delivers broad business process solutions across various industries.

Conduent (NASDAQ: CNDT) reported Q4 and FY 2022 results with revenues of $986M and $3.858B, respectively, reflecting year-over-year declines of 5.9% and 6.8%. The company faced a significant pre-tax loss of $365M in Q4 mainly due to a goodwill impairment charge of $358M. Despite economic challenges, the adjusted EBITDA margin for Q4 was 9.6%. New business signings ACV totaled $194M in Q4, contributing to a full-year total of $732M. For FY 2023, Conduent expects adjusted revenue between $3.7B and $3.8B and aims for EBITDA margins between 10.0% and 10.8%. Cash flow from operations for Q4 was $51M.

Conduent has been selected by the New Mexico Human Services Department to implement a new Medicaid Management Information System (MMIS), replacing the existing system. This modular, cloud-based platform will enhance enterprise claims processing, data exchange, and reporting services, benefitting around one million Medicaid members in the state. The project aims to automate processes, reduce costs, and improve service delivery for Medicaid providers. Conduent, a leader in government process solutions, has supported New Mexico for 29 years and processes over 155 million Medicaid claims annually for 23 states.

Conduent (Nasdaq: CNDT) will showcase its cutting-edge customer experience and mortgage processing solutions at the Mortgage Banking Association (MBA) Servicing Solutions Conference & Expo 2023. The event occurs from February 21 to 24 at the Hyatt Regency in Orlando. Conduent's technologies aim to enhance operational efficiencies and customer service within the mortgage industry. Key highlights include their customer experience solutions, the BlitzDocs document management platform, and automated document solutions that have successfully improved data processing speeds. The company positions itself as a leader in transforming digital operations in a complex lending environment.