Conduent (NASDAQ:CNDT) Stock Rating Lowered by Wall Street Zen

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

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

Conduent Stock Down 2.7%

Shares of NASDAQ:CNDT opened at $1.46 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.57 and a current ratio of 1.57. Conduent has a 52-week low of $1.18 and a 52-week high of $3.61. The firm has a market capitalization of $225.88 million, a P/E ratio of -1.30 and a beta of 1.31. The stock has a 50 day moving average price of $1.71 and a 200-day moving average price of $2.17.

Conduent (NASDAQ:CNDT) last announced its earnings results on Thursday, February 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.15) EPS. As a group, equities research analysts anticipate that Conduent will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Hernandez Margarita Palau bought 50,000 shares of the stock in a transaction on Wednesday, February 18th. The stock was acquired at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the acquisition, the director owned 50,000 shares of the company’s stock, valued at $72,500. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Harshavardhan V. Agadi purchased 117,099 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were purchased at an average price of $1.56 per share, for a total transaction of $182,674.44. Following the purchase, the chief executive officer owned 337,099 shares of the company’s stock, valued at approximately $525,874.44. This trade represents a 53.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 337,099 shares of company stock valued at $499,974 over the last quarter. 2.98% of the stock is owned by corporate insiders.

Institutional Trading of Conduent

Hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC increased its position in Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after purchasing an additional 5,165 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Conduent during the second quarter valued at approximately $29,000. Modern Wealth Management LLC bought a new position in shares of Conduent during the third quarter valued at approximately $34,000. IHT Wealth Management LLC purchased a new position in Conduent during the second quarter valued at approximately $34,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in Conduent in the third quarter worth approximately $39,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

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.