Conduent (NASDAQ:CNDT) Rating Increased to Strong-Buy at Noble Financial

Noble Financial upgraded shares of Conduent (NASDAQ:CNDT) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Monday, April 20th. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy”.

Conduent Stock Down 12.4%

CNDT opened at $1.49 on Tuesday. Conduent has a 12 month low of $1.15 and a 12 month high of $2.98. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $231.10 million, a P/E ratio of -1.46 and a beta of 1.43. The stock’s 50 day moving average price is $1.46 and its 200 day moving average price is $1.73.

Conduent (NASDAQ:CNDT) last posted its earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.12. Conduent had a negative return on equity of 6.87% and a negative net margin of 5.04%.The firm had revenue of $723.00 million for the quarter, compared to analysts’ expectations of $746.67 million. As a group, research analysts predict that Conduent will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other Conduent news, Director Hernandez Margarita Palau acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the completion of the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $72,500. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Harshavardhan V. Agadi acquired 117,099 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was acquired at an average price of $1.56 per share, for a total transaction of $182,674.44. Following the completion of the purchase, the chief executive officer directly owned 337,099 shares of the company’s stock, valued at $525,874.44. This trade represents a 53.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 337,099 shares of company stock valued at $499,974 over the last quarter. Insiders own 1.92% of the company’s stock.

Hedge Funds Weigh In On Conduent

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake 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 acquiring an additional 14,360 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Conduent in the 2nd quarter valued at approximately $29,000. FNY Investment Advisers LLC grew its stake in shares of Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after purchasing an additional 5,165 shares during the period. M&T Bank Corp bought a new stake in shares of Conduent in the 4th quarter valued at approximately $33,000. Finally, Modern Wealth Management LLC bought a new stake in shares of Conduent in the 3rd quarter valued at approximately $34,000. 77.28% of the stock is currently owned by institutional investors.

Conduent Company Profile

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.