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Conduent Incorporated (NASDAQ: CNDT) is the world's largest provider of diversified business process services. The company excels in transaction processing, automation, analytics, and constituent experience. Conduent collaborates with both government and commercial customers to enhance the delivery of services to their respective client bases. It plays a pivotal role in the U.S. healthcare industry by managing interactions with patients and the insured. Additionally, it serves as the customer interface for large segments of the technology industry and is a key operational and processing partner for public transportation systems globally.
Conduent offers a broad range of services including digital payments, claims processing, benefit administration, automated tolling, customer care, and distributed learning. These services are designed to create value for both clients and their constituents by modernizing and managing interactions effectively. Customers include Fortune 100 companies and more than 600 government and transportation agencies.
The company operates through three key segments: Commercial Industries, Government Services, and Transportation, with the majority of its revenue generated in the United States. Conduent's significant recent achievement includes successfully migrating its on-premises Oracle Exadata environment to the cloud using Oracle Database@Azure. This migration has significantly improved application performance and enabled real-time transaction processing, enhancing the services provided to its clients.
To stay updated on the latest developments, visit www.conduent.com.
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.
Conduent (Nasdaq: CNDT), a global technology-led business solutions and services company, has been named to Newsweek's Top 100 Global Most Loved Workplaces for 2024. This marks the second consecutive year Conduent has received this recognition. The ranking, produced in collaboration with Best Practice Institute (BPI), underscores Conduent’s commitment to a positive workplace culture. Cliff Skelton, Conduent’s President and CEO, highlighted the importance of a workplace where associates can grow and make a positive impact. The list was compiled after surveying over 2 million employees from various-sized businesses, focusing on respect, care, and appreciation for employees. Conduent's inclusion aligns with its core values of teamwork, communication, and inclusion.
SEPTA has launched a pilot program using Conduent’s 3D Fare Gate Solution at the 69th Street station in Upper Darby to detect and deter fare evasion. The pilot, which started in April, aims to address fare evasion costing SEPTA $30 million to $40 million annually. The gates, measuring 7 feet, 8 inches tall, use innovative 3D detection optical sensors to allow quick access while detecting ticket fraud. Following the three-month trial, SEPTA plans to expand the gates to other stations with high fare evasion rates. Conduent’s solution has been implemented successfully in Paris, providing reliable data on fare evasion, thus aiding enforcement decisions.
Conduent (Nasdaq: CNDT) has completed the transfer of its BenefitWallet Health Savings Accounts (HSA) portfolio to HealthEquity (Nasdaq: HQY), marking the final phase of a transaction worth approximately $425 million. This move aligns with Conduent's strategy to streamline its operations and focus on core capabilities, as outlined in its 2023 investor briefing. Despite the portfolio transfer, Conduent will maintain its Human Capital Solutions offerings, including customer contact services and claims processing for HealthEquity. This rationalization is a key part of Conduent's planned adjustments for 2024.
Conduent Incorporated (Nasdaq: CNDT) will attend the Needham Technology & Media Conference on May 14-15, 2024, and TD Cowen's Technology, Media & Telecom Conference on May 29-30, 2024, in New York City. Company executives will engage in one-on-one investor meetings.
Conduent Incorporated (Nasdaq: CNDT) has announced the sale of its Casualty Claims Solutions business to MedRisk for $240 million in cash. This includes workers' compensation and auto casualty bill review solutions and services, along with the processing of medical bills and clinical services. The transaction is expected to close in the third quarter of 2024, with current employees joining MedRisk.
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