Conduent Incorporated - CNDT STOCK NEWS

Conduent's analysis reveals a significant recovery in toll road traffic volumes, showing only an 8.7% year-over-year decline in November 2020, a substantial improvement from the 50% drop recorded in April 2020. This rebound aligns with the easing of COVID-19 restrictions and proactive measures by tolling agencies. However, traffic trends remain volatile, with slight year-over-year declines in October and November. In 2019, Conduent managed over 4 billion toll transactions, representing more than 50% of major toll systems in the U.S.

Conduent Transportation announces the rollout of its Seamless® Transportation System in the Tours Métropole’s Fil Bleu public transport network across 200 buses and 21 trams. This contactless payment solution allows 1.5 million residents in seven urban areas in France to access public transportation safely, enhancing passenger experience amid the COVID-19 pandemic. The system features NFC and BLE technology, ensuring data privacy. Fil Bleu serves nearly 40 million travelers annually and aims to simplify operations and interoperability with other transit systems in France.

Conduent Incorporated (Nasdaq: CNDT) has secured a seven-year agreement with Vaya Health to implement a customized version of its award-winning HSP Core Claims Administration software. This partnership aims to optimize the administration of behavioral health benefits for Medicaid recipients in North Carolina. As Vaya transitions to a pay-for-performance model by July 2021, the software will facilitate cost savings and efficiency gains through automated processes and advanced analytics. The agreement positions Vaya to adapt to new Medicaid program rules effectively.

Conduent Incorporated (Nasdaq: CNDT) announced a commercial agreement with Experian Health to enhance Patient Assistance Programs (PAPs). This collaboration aims to facilitate quick access to prescription drug assistance for uninsured and underinsured patients, benefiting up to 28 million Americans. The partnership integrates Conduent’s IntelliHealth platform with Experian’s electronic income verification tool, streamlining the approval process for medications. This initiative is crucial given the current economic challenges, with over 12.6 million Americans jobless, and aims to eliminate paperwork for patients in need.

Conduent Incorporated (Nasdaq: CNDT) announced its status as the first preferred affiliate of APPLY Synergies, a consulting firm focused on learning and performance support strategies. This relationship permits Conduent to access proprietary methodologies to enhance learning solutions for global clients across various industries. The 5 Moments of Need methodology facilitates just-in-time training for employees, improving onboarding and re-skilling effectiveness. This partnership aims to help organizations adapt in the fast-evolving business landscape, particularly in response to challenges like COVID-19.

Conduent (NASDAQ: CNDT) reported robust Q3 2020 results, with revenue of $1,041 million, down 5.2% year-over-year but beating expectations. Adjusted EBITDA rose 11% to $141 million, with a margin of 13.5%. New business signings witnessed a 100% increase to $468 million, indicating strong market demand. The firm is on track to exceed its $140 million cost reduction target. Although government segments thrived due to SNAP programs, overall revenue faced pressure from prior year losses. Future guidance suggests FY 2020 revenue could decline between 6.4% and 7.4%.

Conduent has unveiled a new contactless payment system for the Adelaide tram network, enhancing accessibility and safety for users. This pilot program, launched on September 20th, allows travelers to pay using Visa, MasterCard, and NFC-enabled devices on 24 trams. The initiative employs Conduent's ATLAS system and aims to modernize fare collection amidst COVID-19 health concerns. This collaboration with the South Australian Government continues a 25-year partnership, showcasing Conduent's global reach in over 400 transit networks.

Conduent has secured a six-year contract with the Kansas Department of Health and Environment to provide eligibility processing services for Medicaid and CHIP. This contract, valued at approximately $134 million, will enhance eligibility for the state's Medicaid programs, with more than 400 local jobs created in Topeka. The award comes amid rising Medicaid enrollment due to the COVID-19 pandemic, with over 406,000 recipients currently in Kansas. Conduent aims to leverage its decades of experience to deliver high-quality services while ensuring efficient customer service.

Conduent Incorporated (Nasdaq: CNDT) has been named a 'Leader' in the 2020 ISG Provider Lens™ Contact Center – Customer Experience Services Global report. This recognition highlights Conduent's extensive experience in customer experience management and its effective use of technologies in AI and analytics. The company also excelled in Europe and the U.K. for its proprietary technology platforms and industry-specific solutions. With over 25 years in the industry, Conduent aims to enhance customer experience and operational efficiency, continuing to invest in digital transformation.