Conduent (NASDAQ:CNDT) Upgraded by StockNews.com to “Buy”

Conduent (NASDAQ:CNDT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Separately, Noble Financial began coverage on Conduent in a research report on Thursday, March 14th. They set an “outperform” rating and a $9.00 price target for the company.

Conduent Trading Down 2.6 %

Shares of Conduent stock opened at $3.76 on Wednesday. The company’s 50-day moving average price is $3.29 and its 200-day moving average price is $3.30. The company has a market cap of $769.22 million, a price-to-earnings ratio of -4.18 and a beta of 1.60. Conduent has a 12-month low of $2.40 and a 12-month high of $4.08. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $953.00 million during the quarter, compared to the consensus estimate of $930.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.48%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. On average, equities analysts expect that Conduent will post 1.06 earnings per share for the current fiscal year.

Institutional Trading of Conduent

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP bought a new position in Conduent in the third quarter valued at $2,905,000. AMH Equity Ltd raised its holdings in shares of Conduent by 86.3% during the 3rd quarter. AMH Equity Ltd now owns 1,490,000 shares of the company’s stock valued at $5,185,000 after buying an additional 690,000 shares in the last quarter. JB Capital Partners LP lifted its position in Conduent by 540.0% in the 4th quarter. JB Capital Partners LP now owns 800,000 shares of the company’s stock worth $2,920,000 after buying an additional 675,000 shares during the last quarter. B. Riley Asset Management LLC purchased a new stake in Conduent in the third quarter worth approximately $1,663,000. Finally, Atalaya Capital Management LP grew its position in Conduent by 278.8% during the third quarter. Atalaya Capital Management LP now owns 578,585 shares of the company’s stock valued at $2,013,000 after acquiring an additional 425,847 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.