8 Best Augmented Reality Stocks Under $5 to Buy

2) Conduent Incorporated (NASDAQ:CNDT)

Stock Price as of 18 October: $3.93

Number of Hedge Fund Holders: 18

Conduent Incorporated (NASDAQ:CNDT) offers digital business solutions and services for the commercial, government, and transportation spectrum in the US, Europe, and internationally. In 2020, the company announced the launch of its Augmented Reality (AR) solution, available to customers throughout its commercial and public sector service lines.

Wall Street remains optimistic about the company’s technology partnerships with Microsoft and Oracle. These are expected to continue to enhance revenue opportunities and cost efficiencies of Conduent Incorporated (NASDAQ:CNDT). The company’s strategic divestitures, along with technology partnerships, continue to form key components of its growth strategy. With a strong focus on cost management and addressing client demands, Conduent Incorporated (NASDAQ:CNDT) has been positioning itself to achieve its financial targets and strengthen its market presence.

Industry veterans opine that the company’s portfolio optimization plan should aid its growth trajectory. Conduent Incorporated (NASDAQ:CNDT) announced that it has wrapped up the sale of its Casualty Claims Solutions Business to MedRisk. This was the third in the company’s portfolio optimization plan, enabling it to further improve its balance sheet and advance its capital allocation strategy.

Conduent Incorporated (NASDAQ:CNDT)’s streamlined portfolio and the infusion of new and proven leadership should place the company well for the future as it advances its solution sets and leverages a strong culture. For FY 2024, the company expects adjusted revenue in the range of $3,325 million – $3,375 million and adjusted EBITDA margin of 4% – 5%.

As per Insider Monkey’s Q2 2024 data, Conduent Incorporated (NASDAQ:CNDT) was part of 18 hedge fund portfolios.