12 Best Technology Penny Stocks To Buy According to Hedge Funds

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7. Conduent Incorporated (NASDAQ:CNDT)

Number of Hedge Fund Investors: 20

Stock Price as of December 23: $4.41

Conduent Incorporated (NASDAQ:CNDT) is a business process outsourcing (BPO) company offering digital platforms and services for government agencies and commercial clients. The company specializes in transaction processing, customer experience management, and healthcare claims administration. Conduent Incorporated (NASDAQ:CNDT) serves clients in sectors such as healthcare, transportation, and public services, generating revenue primarily from long-term service contracts.

Conduent Incorporated (NASDAQ:CNDT) has been actively optimizing its portfolio through strategic divestitures, which have generated approximately $780 million in after-tax proceeds. These proceeds have been deployed to strengthen the balance sheet by prepaying debt and repurchasing shares. The company remains committed to further enhancing its balance sheet and focusing its investments on its core businesses. The divestiture program is not yet complete, and the Board of Directors is fully supportive of the ongoing efforts to identify and execute additional transactions that can further enhance shareholder value.

Furthermore, Conduent Incorporated (NASDAQ:CNDT) is focused on enhancing its sales efforts, particularly in the commercial segment, where it sees a strong pipeline and growth opportunities. The company remains opportunistic about potential transactions that can further enhance value and simplify its portfolio.

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