Conduent Inc (CNDT) Receives $18.00 Consensus Price Target from Brokerages
Conduent Inc (NASDAQ:CNDT) has received an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $18.00.
Several analysts have weighed in on CNDT shares. BMO Capital Markets reaffirmed a “hold” rating and set a $18.00 price objective on shares of Conduent in a research report on Thursday, September 28th. Zacks Investment Research lowered Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Needham & Company LLC assumed coverage on Conduent in a research report on Wednesday, September 13th. They issued a “hold” rating for the company. BidaskClub cut Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Finally, Cowen and Company restated a “hold” rating and issued a $18.00 target price on shares of Conduent in a research note on Friday, July 28th.
In related news, EVP David Amoriell sold 106,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the sale, the executive vice president now owns 120,630 shares of the company’s stock, valued at $2,051,916.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its stake in shares of Conduent by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after purchasing an additional 527 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Conduent by 213.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after purchasing an additional 6,046 shares during the last quarter. Pacad Investment Ltd. purchased a new position in shares of Conduent during the second quarter valued at approximately $161,000. Stevens Capital Management LP bought a new stake in shares of Conduent in the 2nd quarter worth approximately $161,000. Finally, Advisory Services Network LLC boosted its position in shares of Conduent by 173.9% in the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after purchasing an additional 6,929 shares in the last quarter.
Shares of Conduent (NASDAQ CNDT) traded down 2.01% during midday trading on Friday, reaching $15.61. The company’s stock had a trading volume of 4,619,628 shares. Conduent has a 52-week low of $13.10 and a 52-week high of $17.12. The stock has a 50-day moving average price of $15.80 and a 200-day moving average price of $15.80. The stock’s market cap is $3.28 billion.
Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) 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 company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. Conduent’s revenue was down 7.3% on a year-over-year basis. Equities research analysts anticipate that Conduent will post $0.76 earnings per share for the current fiscal year.
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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