Conduent Inc Stock Price, News & Analysis

Conduent Transportation has launched an electronic ticketing system for Navigazione Laghi, operating 100 boats on Italy's Lakes Maggiore, Garda, and Como, serving approximately 10 million passengers annually. The implementation at 60 ticket offices will enable contactless payments and QR code usage by early next year. This system builds on previous initiatives for real-time fleet monitoring and aims to enhance passenger experience while optimizing service through improved data analytics.

Conduent (CNDT) is showcasing its loan servicing solutions at LendIt Fintech in New York City on May 25-26, 2022. The company manages over $120 billion in assets, supporting 14 million consumer loans and leases. Conduent's Loan Manager platform offers enhanced account servicing and collections recovery, aiming to improve customer experience and reduce operational costs by up to 25%. The platform facilitates real-time data access and integrates with service providers via an extensive API library, addressing challenges in the financial services sector.

Conduent (Nasdaq: CNDT) has been selected as a qualified provider by NASPO ValuePoint to deliver Third-Party Liability (TPL) Services to state health agencies. This selection allows Conduent to compete for contracts across multiple states, enhancing its portfolio of services supporting Medicaid programs. Conduent's modular technology is designed to improve efficiency in soliciting payments from third-party resources. The state of Georgia led this procurement, with additional states including Louisiana, Missouri, Montana, and Rhode Island participating. Conduent's experience includes supporting Medicaid systems in 23 states and facilitating federal MMIS certifications in 14 states.

Conduent Incorporated (Nasdaq: CNDT) highlights the increasing demand for efficiency within legal departments, driven by challenges such as remote work. Key areas of focus include strengthening resiliency and implementing tech solutions that integrate with other business functions. Conduent will showcase its advanced legal spend and contract analytics tools at the CLOC Global Institute from May 9-12. These tools help organizations optimize resources, ensure compliance, and enhance overall productivity in legal operations.

Conduent (Nasdaq: CNDT) has been recognized as a Leader in the Everest Group Healthcare Payer Operations PEAK Matrix® Assessment 2022. This distinction highlights Conduent's market impact, value delivery, and innovative service offerings such as claims management and enrollment. The recognition follows a recovery in the payer business process services market post-COVID-19, with increasing demand for integrated solutions. Conduent aims to enhance client efficiency and adaptability through its strategic investments in key healthcare areas.

Conduent (NASDAQ: CNDT) reported Q1 2022 revenue of $967M, down 5.9% year-over-year, while adjusted revenue was $960M, a decline of 5.0%. Net income surged 1336.4% to $136M, primarily due to gains on the Midas divestiture. The adjusted EBITDA margin improved to 11.1% from 10.4%. New business signings saw a significant boost, with a 32% increase in total contract value to $464M. The company anticipates FY 2022 adjusted revenue between $3.825B and $3.975B, reflecting ongoing strategic adjustments, including the planned separation of the Transportation business.

Conduent has secured a 10-year contract with Montgomery County, Maryland, to supply automated speed and red-light camera systems, enhancing traffic safety. This renewal extends a partnership that began in 2007, during which the county's program saw a 62% decrease in speeding at camera sites and a 39% reduction in serious crashes. The program currently operates 77 speed cameras and 50 red-light cameras, with plans to double these numbers. The total contract value is approximately $116 million, consisting of a 5-year base term and five 1-year options.