Conduent (NASDAQ:CNDT) Upgraded by Noble Financial to Strong-Buy Rating

Conduent (NASDAQ:CNDT) was upgraded by Noble Financial to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

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

Conduent Stock Down 12.4%

Shares of CNDT opened at $1.49 on Tuesday. The firm 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 is $1.46 and its two-hundred day moving average is $1.73. Conduent has a 12 month low of $1.15 and a 12 month high of $2.98. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.97.

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

Insider Activity at Conduent

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

Hedge Funds Weigh In On Conduent

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its holdings in shares of Conduent by 28,720.0% in the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after acquiring an additional 14,360 shares during the period. Boothbay Fund Management LLC purchased a new stake in Conduent in the 2nd quarter valued at approximately $29,000. FNY Investment Advisers LLC lifted its stake in 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 buying an additional 5,165 shares in the last quarter. M&T Bank Corp purchased a new stake in Conduent in the 4th quarter valued at approximately $33,000. Finally, Modern Wealth Management LLC purchased a new position in shares of Conduent during the 3rd quarter worth $34,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

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.