Conduent (NASDAQ:CNDT) Rating Increased to Hold at Wall Street Zen

Conduent (NASDAQ:CNDT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Conduent Trading Up 11.2%

Shares of CNDT stock opened at $1.59 on Friday. Conduent has a 1-year low of $1.18 and a 1-year high of $3.94. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.97. The stock has a market cap of $243.10 million, a price-to-earnings ratio of -1.42 and a beta of 1.31. The stock has a 50-day moving average of $1.76 and a 200-day moving average of $2.21.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. Conduent had a negative return on equity of 7.82% and a negative net margin of 5.59%.Conduent’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, equities research analysts forecast that Conduent will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Hernandez Margarita Palau bought 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were bought at an average price of $1.45 per share, for a total transaction of $72,500.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately $72,500. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Harshavardhan V. Agadi bought 110,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were bought at an average cost of $1.44 per share, for a total transaction of $158,400.00. Following the completion of the purchase, the chief executive officer owned 110,000 shares of the company’s stock, valued at $158,400. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 220,000 shares of company stock worth $317,300. Corporate insiders own 2.98% of the company’s stock.

Institutional Investors Weigh In On Conduent

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GatePass Capital LLC raised its holdings in shares of Conduent by 2.3% during the second quarter. GatePass Capital LLC now owns 223,100 shares of the company’s stock valued at $589,000 after purchasing an additional 5,000 shares during the period. FNY Investment Advisers LLC increased its position in Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after buying an additional 5,165 shares in the last quarter. Sei Investments Co. raised its stake in Conduent by 4.3% during the 3rd quarter. Sei Investments Co. now owns 201,619 shares of the company’s stock worth $565,000 after buying an additional 8,381 shares during the period. HTG Investment Advisors Inc. boosted its holdings in Conduent by 66.8% in the fourth quarter. HTG Investment Advisors Inc. now owns 22,474 shares of the company’s stock worth $43,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Strs Ohio boosted its holdings in Conduent by 6.8% in the fourth quarter. Strs Ohio now owns 171,500 shares of the company’s stock worth $329,000 after acquiring an additional 10,900 shares in the last quarter. 77.28% of the stock is owned by institutional investors.

Conduent Company Profile

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.