Conduent Inc - CNDT STOCK NEWS

Conduent Incorporated (Nasdaq: CNDT) has been selected by the Wisconsin Department of Children and Families (DCF) to modernize the state's child support system. The new system, called THRIVE, will replace the legacy system with an advanced solution featuring enhanced self-service options for parents, including an online portal and mobile app. This project builds on Conduent's 25-year relationship with Wisconsin, where it has been providing State Disbursement Unit services.

The modernization aims to integrate national best practices, utilizing the latest technology, automation, and data analytics. Conduent's selection follows its successful implementation of federally certified statewide child support systems in Delaware and South Carolina, as well as a cloud-based system in New Hampshire. Over the past decade, Conduent has processed approximately $126 billion in child support payments nationwide.

Conduent (Nasdaq: CNDT) has announced a three-year renewal of its Pharmacy Benefit Management (PBM) contract with the Montana Department of Public Health and Human Services (MDPHHS). This renewal, which extends a 38-year relationship, aims to enhance Medicaid management in Montana. Conduent’s Medicaid Suite (CMdS) will continue to help MDPHHS reduce costs and streamline operations through advanced applications including point of sale, prior authorization, rebate management, and data analytics. Additionally, Conduent will provide services such as medical authorization, precertification, and call center support. This contract underscores Conduent's commitment to transparency and cost-effectiveness in managing pharmacy benefits in Montana.

Conduent Transportation has launched a contactless open payment system on Venice's public transportation network, managed by AVM. The new EMV (Europay, Mastercard, and Visa) system allows passengers to pay for fares using contactless credit and debit cards, as well as NFC-enabled devices like smartphones and smartwatches. Conduent deployed over 2,200 validators across AVM's fleet, including water buses, speedboats, motorboats, ferries, buses, trams, and people movers. This system aims to modernize transportation in Venice, supporting 180 million passengers annually and offering best fare pricing to ensure the lowest available price for journeys taken each day. Conduent has previously implemented similar systems in Belluno and Verona, further expanding its reach in the Veneto region.

Conduent has been recognized as a leader in the 2024 NelsonHall Evaluation and Assessment Tool (NEAT) for CX Services Transformation. The report evaluated 17 companies on their customer experience (CX) services. Conduent excelled in knowledge management transformation, employee training, and sector-specific CX services, particularly in healthcare, travel, and transportation. The company's approach to CX consulting and advisory aims to transform customer journeys and experiences. Conduent was noted for achieving 40% cost savings for a global logistics company while enhancing service quality and efficiency through technology and data analytics.

Conduent (NASDAQ: CNDT) will participate in the Singular Research Summer Solstice Conference on June 20, 2024, in New York City. Giles Goodburn, Vice President of Investor Relations, will present at 12:45 p.m. ET and engage in one-on-one meetings. The event will be both virtual and in-person. To access the live broadcast, registration is required through a provided link.

Conduent has repurchased all common stock owned by Carl Icahn's affiliates for $3.47 per share, totaling approximately $132 million. The transaction was funded through Conduent's cash reserves and credit facility. As a result, Icahn's affiliates no longer hold shares in the company. Additionally, three board members associated with Icahn have resigned. CEO Cliff Skelton expressed confidence in the company's strategy and growth prospects, stating plans to focus on debt reduction. The Special Transaction Committee, advised by independent legal and financial experts, unanimously recommended the repurchase.

Conduent (Nasdaq: CNDT) has been selected by the Colorado Department of Health Care Policy and Financing to provide Business Intelligence and Data Management (BIDM) technology services. Under the new contract, Conduent will manage and enhance a modular enterprise data warehouse to support the Medicaid Enterprise System (MES). Their expertise will improve data analysis, reporting, and regulatory compliance. The initiative aims to boost member health outcomes, data exchange, and program cost analysis. Conduent supports over 41 million residents through various government health programs.

Conduent, a global technology-led business solutions company, has published its 2023 Corporate Social Responsibility (CSR) Report. The report showcases the company's efforts in sustainability, ethical business conduct, and community involvement. Key highlights include achieving a 40-50% reduction in Scope 2 greenhouse gas emissions by 2030 from the 2019 baseline, expanding emissions disclosures, and committing to the Science Based Target initiative. Additionally, Conduent received seven awards for diversity, equity, and inclusion, and its associates volunteered 15,406 hours in local communities. The company's sustainability disclosures align with TCFD and SASB frameworks.

Conduent (Nasdaq: CNDT) has been recognized as a leader in the 2024 NelsonHall Evaluation and Assessment Tool (NEAT) for Multi-Process HR Transformation Services. The NelsonHall NEAT report evaluates companies across various criteria, including capability, focus, and geographic coverage. Conduent excels in supporting large enterprises, with 80% of its business catering to organizations with over 15,000 employees. The company is praised for its digital transformations leveraging AI, automation, and optimization. Key strengths include its Human Capital Solutions, global HR processes, proprietary technology, and employee-centric delivery model. Conduent also performed well in several categories, including Overall, Efficiency Focus, Europe Focus, Multi-Country Focus, and North America Focus.