10 AI News Stories That Are Dominating Headlines

3. Conduent Inc. (NASDAQ:CNDT)

Number of Hedge Fund Holders: 20

Conduent Inc. (NASDAQ:CNDT) offers business process services and technology solutions to help businesses and government agencies manage critical tasks and interactions. On February 12, the company announced its fourth quarter and full-year 2024 financial results. It reported Q4 EPS of ($0.15), $0.03 below the analyst estimate of ($0.12). Meanwhile, revenue for the quarter came in at $800 million compared to the consensus estimate of $806.33 million. Its full revenue was down 4.3% compared to 2023, slightly below expectations owing to discrete drivers. Looking ahead, the company sees FY2025 revenue of $3.1-3.25 billion, versus the consensus of $3.28 billion.

The company said that it successfully divested several assets at good multiples, which allowed it to pay down debt and streamline its strategy. Improved retention and increased new business ACV quarter-over-quarter led to a strong net ARR, while the company’s commercial segment also demonstrated a solid sales year. The company has also made significant progress in leveraging artificial intelligence across its entire portfolio, achieving milestones in digital and AI solutions and garnering recognition for its services. Integrating AI, particularly in fraud detection and document automation, has allowed it to generate revenue and reduce expenses.

“We remain bullish on achieving expectations in 2025. We continue to see opportunities for a further rationalized portfolio and remain focused on delivering outstanding service to our valued client base.”

-Cliff Skelton, Conduent President and Chief Executive Officer