CNDT - Why Conduent Stock Fell Today
Shares of Conduent (NASDAQ: CNDT) were falling today after the company reported its fourth-quarter 2020 results yesterday. Despite the company beating Wall Steet's consensus earnings and revenue estimates, some investors sold off their shares.
The tech stock fell by as much as 17.6% and was down 12.5% as of 1:49 p.m. EST.
Conduent reported adjusted earnings per share of $0.20, which was up 11% from the year-ago quarter and beat analysts' consensus earnings estimate of $0.19. The company's sales of $1.05 billion were down 4% year over year, but still beat Wall Street's estimate of $1.03 billion for the quarter.
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Why Conduent Stock Fell Today