Conduent (NASDAQ:CNDT) Stock Rating Upgraded by 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 research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Conduent has a consensus rating of “Moderate Buy”.

Conduent Stock Down 0.8%

CNDT opened at $1.20 on Friday. The firm has a market cap of $185.65 million, a P/E ratio of -1.07 and a beta of 1.28. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.57 and a current ratio of 1.57. The business has a 50 day moving average price of $1.51 and a 200 day moving average price of $2.03. Conduent has a twelve month low of $1.15 and a twelve month high of $3.10.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Conduent had a negative return on equity of 8.03% and a negative net margin of 5.59%.The firm had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Conduent’s quarterly revenue was down 3.7% compared to the same quarter last year. Research analysts forecast that Conduent will post -0.34 EPS for the current year.

Insider Activity

In related news, Director Michael Fucci bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $86,400.00. Following the purchase, the director directly owned 166,102 shares in the company, valued at $239,186.88. This trade represents a 56.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Harshavardhan V. Agadi bought 117,099 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $1.56 per share, with a total value of $182,674.44. Following the completion of the purchase, the chief executive officer owned 337,099 shares in the company, valued at approximately $525,874.44. The trade was a 53.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 337,099 shares of company stock valued at $499,974. 2.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Alpine Global Management LLC acquired a new position in shares of Conduent during the fourth quarter valued at about $82,000. Susquehanna Fundamental Investments LLC acquired a new stake in Conduent during the fourth quarter worth about $460,000. Occudo Quantitative Strategies LP increased its stake in Conduent by 32.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 131,160 shares of the company’s stock valued at $252,000 after acquiring an additional 31,851 shares during the period. Millennium Management LLC raised its holdings in Conduent by 52.3% in the 4th quarter. Millennium Management LLC now owns 617,135 shares of the company’s stock valued at $1,185,000 after acquiring an additional 211,970 shares in the last quarter. Finally, Miller Value Partners LLC raised its holdings in Conduent by 38.5% in the 4th quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock valued at $10,720,000 after acquiring an additional 1,552,560 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

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.