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

Conduent (NASDAQ:CNDT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Conduent Price Performance

Shares of CNDT opened at $1.59 on Friday. The business’s fifty day moving average is $1.76 and its 200 day moving average is $2.20. Conduent has a 12-month low of $1.18 and a 12-month high of $3.94. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.97. The stock has a market cap of $245.99 million, a P/E ratio of -1.42 and a beta of 1.32.

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

Insider Activity

In other Conduent news, Director Michael Fucci bought 60,000 shares of Conduent stock in a transaction dated Thursday, February 19th. The stock was bought at an average cost of $1.44 per share, with a total value of $86,400.00. Following the completion of the acquisition, the director directly owned 166,102 shares in the company, valued at approximately $239,186.88. The trade was a 56.55% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Hernandez Margarita Palau purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were acquired at an average price of $1.45 per share, for a total transaction of $72,500.00. Following the completion of the acquisition, the director directly owned 50,000 shares of the company’s stock, valued at $72,500. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 220,000 shares of company stock valued at $317,300 over the last three months. Corporate insiders own 2.98% of the company’s stock.

Institutional Investors Weigh In On Conduent

A number of hedge funds have recently made changes to their positions in CNDT. Global Retirement Partners LLC grew its position in Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after buying an additional 14,360 shares during the period. Boothbay Fund Management LLC purchased a new position in Conduent in the second quarter valued at about $29,000. FNY Investment Advisers LLC boosted its stake in Conduent by 89.7% in the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after acquiring an additional 5,165 shares during the last quarter. M&T Bank Corp bought a new position in shares of Conduent during the 4th quarter valued at approximately $33,000. Finally, Modern Wealth Management LLC bought a new position in shares of Conduent during the 3rd quarter valued at approximately $34,000. 77.28% of the stock is currently owned by 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.