10 Best Nasdaq Stocks Under $5 to Buy

6. Conduent Inc. (NASDAQ:CNDT)

Current Market Price: $4.32

Number of hedge funds: 20

Conduent Inc. (NASDAQ:CNDT) offers business process services (BPS; outsourcing) and technology solutions to help businesses and government agencies manage critical tasks and interactions. The company provides a range of services, including customer experience management, digital payments, government healthcare claims, road usage charging, and transit. Conduent uses automation, cloud computing, and AI to deliver these mission-critical business process solutions.

Conduent Inc. (NASDAQ:CNDT) announced its mid-term outlook with its Q3 2024 results in November. The company expects adjusted revenue between $3.19 billion and $3.22 billion and an adjusted EBITDA margin between 3.75% and 4.0% for the full year 2024. Additionally, it has forecasted a 2%-4% revenue growth and a 2.0%-2.5% adjusted EBITDA margin expansion for 2025. Under its 2024 divestiture program, Conduent Inc. (NASDAQ:CNDT) has been rationalizing its offerings portfolio under its 2024 divestiture program, and by November, had already allocated 75% of the $1.0 billion of proceeds to debt prepayment and share repurchases, strengthening its financial position.