Conduent (NASDAQ:CNDT) Stock Rating Upgraded by Wall Street Zen
by Renee Jackson · The Cerbat GemConduent (NASDAQ:CNDT – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.
Several other research firms also recently weighed in on CNDT. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a research report on Thursday, October 15th. Zacks Research lowered shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.
Check Out Our Latest Stock Report on Conduent
Conduent Price Performance
Shares of NASDAQ CNDT opened at $1.79 on Friday. The firm has a market cap of $278.38 million, a PE ratio of -1.18 and a beta of 1.45. The firm has a fifty day moving average of $1.62 and a 200 day moving average of $1.58. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.55 and a current ratio of 1.55. Conduent has a one year low of $1.15 and a one year high of $2.66.
Conduent (NASDAQ:CNDT – Get Free Report) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $702.00 million. As a group, research analysts predict that Conduent will post -0.37 EPS for the current fiscal year.
Institutional Trading of Conduent
Several large investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC lifted its stake in Conduent by 30.9% during the 2nd quarter. Headlands Technologies LLC now owns 54,683 shares of the company’s stock worth $80,000 after acquiring an additional 12,919 shares in the last quarter. Nierenberg Investment Management Company LLC purchased a new position in Conduent during the 2nd quarter valued at about $25,630. GSA Capital Partners LLP purchased a new position in Conduent during the 2nd quarter valued at about $30,000. Pallas Capital Advisors LLC purchased a new position in Conduent during the 2nd quarter valued at about $30,000. Finally, Public Employees Retirement System of Ohio grew its position in Conduent by 16.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 202,482 shares of the company’s stock valued at $259,000 after acquiring an additional 28,509 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.
About Conduent
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.