Conduent Inc Stock Price, News & Analysis

Conduent, alongside Getnet and Work Level, has launched a contactless payment system for three lines of the Mexico City Metrobús. This initiative allows nearly 1 million users to pay fares using major contactless credit and debit cards as well as NFC-enabled devices. The system includes advanced ticket vending machines and a back-office fare collection system under the EMV payment model, marking a significant upgrade in public transit payment systems in Latin America. This collaboration aims to enhance ridership experiences with modern payment methods.

Conduent is now assisting approximately 10.4 million recipients with state benefits through the Pandemic Electronic Benefit Transfer (P-EBT) program, a figure that has more than doubled from the previous year. Additionally, 12 million recipients are supported under the Supplemental Nutrition Assistance Program (SNAP), marking an 18% increase since the pandemic began. Conduent provides over 40% of the nation’s SNAP payments for 25 state agencies, showcasing the company's critical role in addressing food assistance needs amidst ongoing economic challenges.

Conduent has secured a contract valued at approximately $51 million from the Virginia Department of Transportation to design, implement, and operate express tolling lanes on Interstate 64 in Hampton Roads. This contract involves a 16-month implementation period, focusing on dynamic pricing and vehicle occupancy detection to enhance traffic flow and reduce congestion. Conduent will maintain multiple tolling zones once operational, expected to be completed by the end of 2022.

Conduent has renewed its partnership with the New Hampshire Department of Health and Human Services to modernize the state’s Medicaid Management Information System (MMIS). The contract, valued at approximately $206 million, includes a five-year base term with an option to extend until 2031. Conduent will enhance the MMIS by improving security, processing speed, and operational efficiency, serving around 220,000 beneficiaries and processing over 15 million claims annually. This partnership underscores Conduent’s expertise in government healthcare solutions.

Conduent (Nasdaq: CNDT) published its 2020 Corporate Social Responsibility (CSR) report, showcasing its commitment to ethical and sustainable business practices. Key highlights include a 50% reduction in real estate footprint, a 23% decrease in Scope 2 CO₂ emissions, and the recycling of over 53 million pounds of materials. The report emphasizes advancements in diversity and inclusion, enhanced associate wellness benefits, and a strengthened ethics program. Conduent's ESG initiatives align with five United Nations Sustainable Development Goals, focusing on community support and sustainability.

Conduent has secured a contract with the Kansas Department for Children and Families to modernize its child support case management system for approximately 131,000 children and their parents. The project will transition from a legacy mainframe to a web-based application on the Azure Cloud platform. The 19-month implementation will be followed by a year of maintenance support. This initiative aims to reduce long-term costs and improve service continuity.

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Conduent has partnered with Eastpointe Human Services to implement its HSP Core Claims Administration solution, enhancing Eastpointe's ability to transition to value-based care for North Carolina’s Medicaid members. This agreement will allow for improved automation in claims processing, aiming to reduce operational costs and improve service delivery for a diverse rural population across 10 counties. With more than 50 years of experience, Conduent is expected to bolster operational efficiency as Eastpointe prepares for the state's Medicaid transformation set for July 2022.

Conduent (NASDAQ: CNDT) reported a 1.0% revenue increase to $1,026M for Q2 2021, marking their first quarter of revenue growth since becoming Conduent. Adjusted EBITDA grew 16.4% to $128M, with a margin of 12.5%. New business signings reached $775M, up 24% YoY, driven by Government Payments and Transportation segments. GAAP net income rose to $12M from a loss of $51M the previous year. The company updated its FY 2021 revenue guidance to $4,100M - $4,175M, reflecting ongoing business momentum.