Conduent Inc (NYSE:CNDT) Given Consensus Rating of “Hold” by Analysts
Shares of Conduent Inc (NYSE:CNDT) have been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.90.
Several brokerages recently weighed in on CNDT. Citigroup reiterated a “neutral” rating and issued a $7.50 price objective (down from $9.00) on shares of Conduent in a research report on Wednesday, August 28th. Needham & Company LLC set a $9.00 price objective on shares of Conduent and gave the company a “buy” rating in a research report on Tuesday, September 24th. ValuEngine upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, Zacks Investment Research downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research report on Monday, November 11th.
A number of large investors have recently modified their holdings of CNDT. Parallel Advisors LLC lifted its position in Conduent by 342.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,757 shares of the company’s stock valued at $26,000 after purchasing an additional 2,134 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Conduent by 1,014.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the company’s stock worth $26,000 after buying an additional 2,446 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Conduent during the 2nd quarter worth about $67,000. World Asset Management Inc raised its position in shares of Conduent by 28.1% during the 3rd quarter. World Asset Management Inc now owns 13,473 shares of the company’s stock worth $84,000 after buying an additional 2,952 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Conduent during the 3rd quarter worth about $102,000. Hedge funds and other institutional investors own 87.58% of the company’s stock.
Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, November 6th. 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 32.11% and a positive return on equity of 6.33%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 15.8% on a year-over-year basis. On average, sell-side analysts predict that Conduent will post 0.63 earnings per share for the current fiscal year.
Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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