Conduent (NASDAQ:CNDT) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Conduent (NASDAQ:CNDT) from a hold rating to a sell rating in a research report released on Sunday morning.

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

Conduent Trading Down 2.7%

Shares of CNDT opened at $1.46 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.97. The stock has a market cap of $225.88 million, a PE ratio of -1.30 and a beta of 1.28. Conduent has a 1 year low of $1.18 and a 1 year high of $3.61. The stock has a 50 day simple moving average of $1.71 and a 200-day simple moving average of $2.17.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 company had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. During the same period in the prior year, the firm earned ($0.15) EPS. Conduent’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Conduent will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael Fucci bought 60,000 shares of Conduent stock in a transaction dated Thursday, February 19th. The shares were bought at an average cost of $1.44 per share, for a total transaction of $86,400.00. Following the completion of the transaction, the director owned 166,102 shares of the company’s stock, valued at approximately $239,186.88. This trade represents a 56.55% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hernandez Margarita Palau purchased 50,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was bought at an average cost of $1.45 per share, with a total value of $72,500.00. Following the acquisition, the director owned 50,000 shares of the company’s stock, valued at $72,500. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 337,099 shares of company stock worth $499,974 in the last 90 days. Corporate insiders own 2.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GatePass Capital LLC increased its stake in shares of Conduent by 2.3% in the 2nd quarter. GatePass Capital LLC now owns 223,100 shares of the company’s stock valued at $589,000 after buying an additional 5,000 shares during the period. FNY Investment Advisers LLC boosted its holdings 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. Sei Investments Co. boosted its holdings in Conduent by 4.3% in the third quarter. Sei Investments Co. now owns 201,619 shares of the company’s stock valued at $565,000 after acquiring an additional 8,381 shares during the last quarter. HTG Investment Advisors Inc. increased its position in Conduent by 66.8% in the fourth quarter. HTG Investment Advisors Inc. now owns 22,474 shares of the company’s stock worth $43,000 after purchasing an additional 9,000 shares during the period. Finally, Strs Ohio raised its holdings in Conduent by 6.8% during the 4th quarter. Strs Ohio now owns 171,500 shares of the company’s stock worth $329,000 after purchasing an additional 10,900 shares during the last quarter. 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.