Modaxo Inc., a global technology organization focused on mobility solutions, has signed a definitive agreement to acquire Conduent Incorporated's Public Transit Business, which includes Transit Fare Management and Fleet Management Solutions. The acquisition is subject to closing conditions and aims to enhance Modaxo's portfolio of transit technology solutions.

The global intelligent transport system market is expected to grow from $33.17 billion in 2023 to $95.86 billion in 2033, driven by factors such as increasing urban populations, expansion of e-commerce, and government initiatives. The market is segmented by component, system, mode of transport, and application, with the hardware, advanced traffic management systems, roadways, and intelligent traffic control segments expected to see the highest growth.

MedRisk, a leader in managed physical rehabilitation in workers' compensation, has completed the acquisition of the Casualty Claims Solutions business from Conduent. The acquisition expands MedRisk's portfolio of care and cost management solutions, enhancing its ability to provide superior claims outcomes and exceptional service for customers.

Long-term contracts provide Maximus (MMS) with a steady flow of revenues.

Republic Services (RSG) is focused on increasing its operational efficiency and reducing fleet operating costs by shifting to compressed natural gas collection vehicles.

Duolingo's (DUOL) revenues are benefiting from a rise in daily and monthly active users, along with a significant increase in subscribers.

FactSet (FDS) has a consistent track record of rewarding its shareholders through share repurchases and dividends.

The Zacks Outsourcing industry is poised for growth as business and IT outsourcing become increasingly vital. Companies like BR, BBSI and CNDT are positioned to benefit from these prevailing trends.

Conduent (CNDT) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.

CNDT earnings call for the period ending March 31, 2024.

Key Q1 2024 Highlights

This article provides an ongoing analysis of the changes made to Carl Icahn's 13F portfolio on a quarterly basis. Read more to see the Q4 2023 update.