|Over a week ago|
Cubic could seek Conduent unit deal to further deter Elliott, Dealreporter says » 09:5609/2109/21/20
After Cubic (CUB)…
After Cubic (CUB) revealed that the board has adopted a shareholders' rights plan, or "poison pill," after being informed of Elliott Management's investment in the company and takeover interest, Dealreporter said that Cubic could consider pursuing a deal to buy Conduent's (CNDT) transport business that runs the EZ-PASS toll system "perhaps to create a further poison pill," contacts tell The Fly. The deal-focused publication noted that Conduent had shopped the unit pre-pandemic and that Cubic was considered a potential buyer, contacts tell The Fly.
Servicing Solutions selects Conduent's Loan Manager services » 08:4909/2109/21/20
Conduent announced that…
Conduent announced that Servicing Solutions has selected Conduent's Loan Manager loan servicing application services. Under this new contract, Servicing Solutions will be utilizing Conduent's Loan Manager SaaS offering to support their end-to-end loan servicing solution for consumer finance industry clients. Loan Manager is flexible, scalable and customizable and provides Servicing Solutions with a web-enabled platform to support their operating processes and third-party integration requirements.
Conduent partners with Bouy Health, IBM Watson Health for workplace challenges » 08:5409/0909/09/20
Conduent (CNDT) announced…
Conduent (CNDT) announced a collaboration with Buoy Health and IBM Watson Health (IBM) to integrate both companies' cutting edge technologies and timely health care resources onto Conduent's [email protected] platform. Conduent clients can now use the HR platform to access Buoy's full digital navigation product portfolio, which includes artificial intelligence driven tools that help people get the right care at the right time, and IBM Return-to-Workplace Advisor, a data and AI-driven application that can assist companies in managing a safe and effective return to the workplace. Conduent designed the [email protected] platform to offer clients and their employees easy access to the most comprehensive suite of digitally-enabled HR offerings in the industry. The digital platform allows every employee to manage the complex landscape of employment, health, wealth, career and retirement choices through a personalized experience. This personalized experience leads to improved employee productivity and reduced costs.
|Over a month ago|
City of Santa Monica renews with Conduent Transportation » 09:1408/1108/11/20
Conduent Transportation announced its selection by the City of Santa Monica, California, to continue providing intelligent parking and curbside management systems and services. The 5-year base contract, plus up to 4 years of options, will expand online and mobile self-help options for customers to manage their account. Under the new contract, enhanced online and mobile options will make it easier for customers to resolve parking citations and manage parking permits. The city's online portal will also provide the ability to apply online for a payment plan to resolve overdue citations, upload documents to streamline permit applications, and communicate with customer service through text and additional emails options - contactless solutions that are valuable in the current COVID-19 environment.
Fly Intel: After-Hours Movers » 18:5808/0608/06/20
CNDT, TRUE, GRPN, STMP, AAOI, VXRT, SAIL, Z, ZG, TDC, UPLD, LGF, LGF.A, YELP, DXC, TLND, SWCH, OTEX, TTD, AVT, BKNG, RSG, G, MHK, UNVR, EB, TRIP, NLOK, ILMN, OLED, CLVS, DBX, CUTR, GPRO, DDOG, UBER
Check out this evening's…
Conduent reports Q2 adj. EPS 12c, consensus (5c) » 16:4508/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $1.02B, consensus $925.5M. Cliff Skelton, Conduent CEO, stated "We continued to make progress in the second quarter as a result of the hard work from our associates and support from our clients. Our Government segment performed particularly well this quarter, driven by larger volumes in the Government payments space and our Transportation business proved to be more resilient than anticipated. New business signings showed significant growth on top of last quarter's strong results and our pipeline is now stronger than it has been in a long time. The business, excluding the headwinds and tailwinds of COVID-19, also performed well and operations improved compared to the prior year period. This progress is the result of deliberate actions to drive improved quality, efficiency and growth, even in light of COVID-19. We remain focused on positioning the company for long-term growth, while taking the time to build a sustainable base of business."
Conduent delivers government assistance to approx. 5M recipients » 09:2408/0308/03/20
Conduent Incorporated announced it has delivered, as of the end of June 2020, government assistance on behalf of state agencies to approximately 5 million benefit recipients of the recently launched Pandemic Electronic Benefits Transfer program. Combined with other related services, including more than 40 percent of the nation's payments under the Supplemental Nutrition Assistance Program, Conduent is now delivering EBT card benefits to nearly 16 million recipients across the country. This represents an approximate 26 percent increase since April. Created by the federal Families First Coronavirus Response Act of 2020, the Pandemic EBT program provides temporary funding to states, aiming to fill areas of need following the COVID-19 crisis and resulting economic shutdown. With school systems closed across the country - and many uncertain about reopening this fall - state agencies utilize the program to provide benefits to families with children who otherwise would receive free or reduced-priced meals in school lunchrooms. States also utilize the program to increase SNAP benefits to households in need. Conduent is currently supporting 24 states with Pandemic EBT: Alabama, Arkansas, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Louisiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, Ohio, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Utah, Vermont and Virginia.
Michigan selects Conduent to provide child support payment services » 08:5607/2807/28/20
The Michigan Department…
The Michigan Department of Health and Human Services has selected Conduent to provide child support payment management services for approximately 845,000 children and their parents in the state. Under the new contract, the company will manage Michigan's centralized State Disbursement Unit, which securely receives and then distributes child support to families via various payment methods, such as debit card, electronic deposit or check. Conduent will also implement new cloud-hosting capabilities for the MiSDU and integrate payment innovations that will move Michigan toward a vision of an all-electronic SDU. In addition, the company will process documentation for the state as well as address user inquiries through a call center and online support. The new 10-year contract for Conduent, which includes options for five additional years, was awarded following an open and competitive process.
Conduent granted patents designed to optimize schedules, trip planning » 08:5407/0207/02/20
Conduent Transportation announced the award of patents designed to optimize schedules and trip planning for public transportation systems that aim to improve the commuting experience. Both patents cover features of the Conduent Mobility Analytics Platform. The Conduent Mobility Analytics Platform aggregates and analyzes urban travel data to better understand user habits and to improve their experience. Using advanced data modeling capabilities across transport operations such as ticketing and fleet management, the platform can optimize the timing and predictability of travel schedules. The platform will also simulate the impacts of planned modifications such as new routes or fare policies. The Conduent Mobility Analytics Platform is a tool aimed at improving travelers' experience. The two new technology patents protect Conduent's intellectual property that enable this functionality, creating "smarter public transportation systems" currently adopted by several cities in Europe. The first patent, "Goal-based Travel Reconstruction," uses a computerized system for tracking passengers who make multi-segment trips, including transfers, to reconstruct their full journeys. Presently, most transit systems only track when passengers board and not when they disembark. This technology uses boarding records and other data to reconstruct the journey and generate insights that can be used to optimize schedules across all segments of a commute. The second patent, "Efficient Optimization of Schedules in a Public Transportation System," employs methods and systems for optimizing passenger transfers from one train, bus or transit line to another. The technology evaluates current schedules and precisely quantifies and models transfer times. Using ticket validation data to construct a realistic scenario-based model of the times, this approach can dynamically adjust the current schedules to reduce the overall expected wait time.
Ohio Turnpike selects Conduent Transportation to modernize tolling lanes » 08:5507/0107/01/20
Conduent Transportation announced it has been selected by the Ohio Turnpike and Infrastructure Commission to modernize and maintain the Ohio Turnpike's toll collection system along the 241-mile interstate. The Ohio Turnpike, one of the longest running toll roads in the United States, spans the northern part of the state, connecting the Indiana and Pennsylvania borders and serving approximately 53 million vehicles a year. Conduent will upgrade equipment on a combined 216 lanes, to include self-service and toll collector-operated toll plazas at on- and off-ramps as well as open-road, automated tolling points designed for E-ZPass transactions. The company will also implement state-of-the-art, multimode Automated Toll Payment Machines, which accept coins, cash and credit/debit cards and are equipped to enable contactless payments in the future using smartphones and digital wallets. The contract begins this summer and will extend until 2034 if all options are exercised. All of the new equipment is expected to be installed by early 2023. Once implemented, Conduent's solutions will support improved throughput and operational efficiencies for vehicles, which will lead to greater ease of travel for drivers.