Conduent (NASDAQ:CNDT) Shares Down 4.2% – Should You Sell?

Shares of Conduent Inc. (NASDAQ:CNDT) dropped 4.2% on Tuesday . The company traded as low as $1.60 and last traded at $1.61. Approximately 2,141,567 shares traded hands during trading, an increase of 101% from the average daily volume of 1,067,825 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research note on Wednesday, January 21st. Wall Street Zen downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Conduent presently has an average rating of “Moderate Buy”.

Conduent Stock Down 4.2%

The stock has a 50-day moving average price of $1.94 and a 200-day moving average price of $2.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $246.15 million, a P/E ratio of -1.64, a P/E/G ratio of 42.00 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last announced its earnings results on Friday, November 7th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $792.00 million. During the same quarter in the previous year, the company earned ($0.14) earnings per share. The business’s revenue was down 1.8% on a year-over-year basis. On average, research analysts predict that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Conduent

A number of large investors have recently bought and sold shares of the business. Boothbay Fund Management LLC bought a new position in shares of Conduent in the 2nd quarter worth about $29,000. FNY Investment Advisers LLC increased its holdings in Conduent by 89.7% in the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after purchasing an additional 5,165 shares in the last quarter. Modern Wealth Management LLC acquired a new position in Conduent in the third quarter valued at approximately $34,000. IHT Wealth Management LLC bought a new position in shares of Conduent during the 2nd quarter worth approximately $34,000. Finally, HTG Investment Advisors Inc. bought a new position in shares of Conduent during the 2nd quarter worth approximately $36,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.