Other analysts have also issued reports about the stock. Needham & Company LLC set a $9.00 price target on shares of Conduent and gave the company a buy rating in a research report on Tuesday, September 24th. Zacks Investment Research raised shares of Conduent from a sell rating to a hold rating in a research report on Monday, October 14th. Citigroup reissued a neutral rating and set a $7.50 price target (down from $9.00) on shares of Conduent in a research report on Wednesday, August 28th. JPMorgan Chase & Co. raised shares of Conduent from a neutral rating to an overweight rating and set a $8.00 price target for the company in a research report on Friday, August 9th. Finally, Cowen set a $8.00 price target on shares of Conduent and gave the company a hold rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $10.08.
Conduent stock traded up $0.02 during midday trading on Friday, hitting $6.60. 1,232,859 shares of the company’s stock were exchanged, compared to its average volume of 2,698,155. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.38 and a current ratio of 1.38. Conduent has a 12 month low of $5.26 and a 12 month high of $15.48. The firm has a 50-day moving average of $6.11 and a two-hundred day moving average of $8.07. The company has a market cap of $1.39 billion, a PE ratio of 6.29 and a beta of 1.83.
Conduent (NYSE:CNDT) last issued its earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Conduent had a negative net margin of 32.11% and a positive return on equity of 6.33%. The firm’s quarterly revenue was down 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 EPS. As a group, equities analysts expect that Conduent will post 0.63 earnings per share for the current year.
In other news, major shareholder Carl C. Icahn purchased 1,941,101 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was acquired at an average cost of $6.57 per share, with a total value of $12,753,033.57. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.92% of the company’s stock.
Several institutional investors have recently made changes to their positions in CNDT. Atlantic Union Bankshares Corp purchased a new position in shares of Conduent in the 2nd quarter valued at approximately $193,000. World Asset Management Inc purchased a new position in shares of Conduent in the 2nd quarter valued at approximately $101,000. Westside Investment Management Inc. purchased a new position in shares of Conduent in the 2nd quarter valued at approximately $50,000. Financial Consulate Inc. purchased a new position in shares of Conduent in the 2nd quarter valued at approximately $99,000. Finally, Strs Ohio purchased a new position in shares of Conduent in the 2nd quarter valued at approximately $771,000. 90.53% of the stock is owned by hedge funds and other institutional investors.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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