Conduent Inc (CNDT) Downgraded by BidaskClub
BidaskClub lowered shares of Conduent Inc (NASDAQ:CNDT) from a sell rating to a strong sell rating in a research note released on Thursday morning.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Conduent from a buy rating to a hold rating in a research note on Wednesday, August 16th. Needham & Company LLC began coverage on shares of Conduent in a research note on Wednesday, September 13th. They issued a hold rating on the stock. Cowen and Company reissued a hold rating and issued a $18.00 price objective on shares of Conduent in a research note on Friday, July 28th. Finally, Citigroup Inc. reissued a buy rating and issued a $25.00 price objective (up from $17.00) on shares of Conduent in a research note on Friday, June 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $18.00.
Conduent (CNDT) opened at 15.49 on Thursday. The stock has a 50 day moving average of $16.00 and a 200 day moving average of $16.00. Conduent has a 1-year low of $13.10 and a 1-year high of $17.12. The stock’s market capitalization is $3.26 billion.
Conduent (NASDAQ:CNDT) last posted its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. On average, analysts expect that Conduent will post $0.76 earnings per share for the current year.
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In related news, EVP David Amoriell sold 106,500 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total value of $1,811,565.00. Following the sale, the executive vice president now directly owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
A number of hedge funds and other institutional investors have recently modified their holdings of CNDT. Community Financial Services Group LLC acquired a new stake in Conduent in the 1st quarter valued at about $202,000. Cohen Capital Management Inc. purchased a new position in Conduent in the 2nd quarter valued at about $1,881,000. Nisa Investment Advisors LLC lifted its holdings in Conduent by 7.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after purchasing an additional 2,000 shares in the last quarter. Alpha Windward LLC lifted its holdings in Conduent by 1.5% in the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after purchasing an additional 524 shares in the last quarter. Finally, Kirr Marbach & Co. LLC IN purchased a new position in Conduent in the 2nd quarter valued at about $8,922,000.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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