Wall Street Zen upgraded shares of Conduent (NASDAQ:CNDT – Free Report) from a strong sell rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.
Other research analysts have also recently issued research reports about the company. Zacks Research cut Conduent from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on CNDT
Conduent Stock Performance
Shares of CNDT opened at $1.70 on Friday. The firm has a 50-day moving average price of $1.61 and a 200 day moving average price of $1.55. The firm has a market capitalization of $264.38 million, a PE ratio of -1.12 and a beta of 1.45. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. Conduent has a 52-week low of $1.15 and a 52-week high of $2.62.
Conduent (NASDAQ:CNDT – Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. The firm had revenue of $531.00 million for the quarter, compared to the consensus estimate of $702.00 million. On average, sell-side analysts anticipate that Conduent will post -0.37 earnings per share for the current fiscal year.
Institutional Trading of Conduent
A number of hedge funds have recently made changes to their positions in CNDT. BlackRock Inc. purchased a new stake in shares of Conduent during the 2nd quarter worth about $20,194,000. Miller Value Partners LLC acquired a new stake in shares of Conduent during the 2nd quarter valued at about $18,960,000. Blue Owl Capital Holdings LP bought a new stake in shares of Conduent in the 2nd quarter valued at approximately $7,353,000. Renaissance Technologies LLC grew its stake in shares of Conduent by 13.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,608,400 shares of the company’s stock valued at $3,339,000 after buying an additional 311,300 shares in the last quarter. Finally, JB Capital Partners LP bought a new stake in shares of Conduent in the 2nd quarter valued at approximately $1,625,069. 77.28% of the stock is owned by hedge funds and other institutional investors.
Conduent Company Profile
Conduent Incorporated (NASDAQ: CNDT) provides business process services and technology solutions to government agencies and commercial organizations. Its services are designed to help clients manage complex administrative processes, improve customer interactions and modernize operations through digital tools and automation.
The company’s offerings include transportation and mobility services, such as electronic tolling, transit fare collection and traffic-management solutions; government services, including public benefits administration, payment processing and constituent support; and commercial services covering customer experience, claims and benefits administration, human resources and other business processes.
Conduent was established as an independent company following its separation from Xerox in 2017.
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