Conduent Incorporated (NASDAQ:CNDT) Given Consensus Rating of “Hold” by Brokerages

Conduent Incorporated (NASDAQ:CNDTGet Rating) has been given a consensus rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $7.00.

Several research analysts have issued reports on the stock. Zacks Investment Research cut shares of Conduent from a “hold” rating to a “sell” rating in a report on Friday, April 29th. TheStreet cut shares of Conduent from a “c-” rating to a “d+” rating in a report on Wednesday, February 9th. Finally, Cowen decreased their price objective on shares of Conduent from $6.00 to $5.00 in a report on Thursday, February 17th.

In other news, EVP Louis Edward Keyes purchased 15,000 shares of the company’s stock in a transaction on Monday, May 9th. The stock was acquired at an average cost of $4.65 per share, for a total transaction of $69,750.00. Following the completion of the transaction, the executive vice president now directly owns 434,182 shares in the company, valued at approximately $2,018,946.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael E. Krawitz purchased 20,000 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was purchased at an average price of $4.46 per share, with a total value of $89,200.00. Following the completion of the transaction, the executive vice president now owns 755,698 shares of the company’s stock, valued at $3,370,413.08. The disclosure for this purchase can be found here. Corporate insiders own 0.99% of the company’s stock.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Conduent by 6.9% during the first quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock valued at $87,546,000 after purchasing an additional 1,099,590 shares during the last quarter. William Blair Investment Management LLC lifted its position in Conduent by 48,066.0% during the third quarter. William Blair Investment Management LLC now owns 6,991,292 shares of the company’s stock valued at $46,073,000 after purchasing an additional 6,976,777 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Conduent by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,785,151 shares of the company’s stock valued at $35,011,000 after purchasing an additional 404,768 shares during the last quarter. Victory Capital Management Inc. lifted its position in Conduent by 11.0% during the first quarter. Victory Capital Management Inc. now owns 4,232,123 shares of the company’s stock valued at $21,892,000 after purchasing an additional 418,521 shares during the last quarter. Finally, Segall Bryant & Hamill LLC lifted its position in Conduent by 12.1% during the fourth quarter. Segall Bryant & Hamill LLC now owns 3,810,886 shares of the company’s stock valued at $20,351,000 after purchasing an additional 411,422 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

NASDAQ:CNDT traded up $0.09 during mid-day trading on Friday, hitting $4.66. 1,417,098 shares of the company’s stock were exchanged, compared to its average volume of 1,558,401. Conduent has a one year low of $4.12 and a one year high of $8.50. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. The business has a fifty day moving average price of $5.05 and a 200 day moving average price of $5.23. The company has a market cap of $1.00 billion, a PE ratio of 9.51 and a beta of 1.66.

Conduent (NASDAQ:CNDTGet Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. The business had revenue of $967.00 million during the quarter, compared to analysts’ expectations of $970.75 million. Conduent had a net margin of 2.92% and a return on equity of 12.26%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities analysts forecast that Conduent will post 0.38 EPS for the current fiscal year.

About Conduent (Get Rating)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. 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; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

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