Conduent (NYSE:CNDT) released its earnings results on Wednesday. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05, Bloomberg Earnings reports. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 EPS.
Shares of Conduent (NYSE:CNDT) opened at $15.99 on Wednesday. Conduent has a 52 week low of $14.95 and a 52 week high of $18.15. The stock has a market capitalization of $3,370.24 and a PE ratio of -3.30. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.60.
A number of equities research analysts have recently commented on CNDT shares. Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Monday, January 1st. BidaskClub upgraded Conduent from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. BMO Capital Markets lowered their price objective on Conduent from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, November 9th. Finally, SunTrust Banks restated a “buy” rating and issued a $20.00 price objective on shares of Conduent in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Conduent has a consensus rating of “Hold” and a consensus target price of $19.60.
A number of institutional investors have recently made changes to their positions in CNDT. Investec Asset Management LTD bought a new stake in Conduent in the 4th quarter valued at about $50,741,000. Two Sigma Advisers LP raised its stake in Conduent by 191.6% in the 4th quarter. Two Sigma Advisers LP now owns 2,667,300 shares of the company’s stock valued at $43,104,000 after acquiring an additional 1,752,570 shares during the period. Governors Lane LP raised its stake in Conduent by 19.5% in the 4th quarter. Governors Lane LP now owns 6,285,294 shares of the company’s stock valued at $101,570,000 after acquiring an additional 1,023,871 shares during the period. Altrinsic Global Advisors LLC raised its stake in Conduent by 68.8% in the 4th quarter. Altrinsic Global Advisors LLC now owns 2,472,258 shares of the company’s stock valued at $39,951,000 after acquiring an additional 1,007,775 shares during the period. Finally, St. James Investment Company LLC raised its stake in Conduent by 91.8% in the 4th quarter. St. James Investment Company LLC now owns 1,791,108 shares of the company’s stock valued at $28,944,000 after acquiring an additional 857,258 shares during the period. Institutional investors and hedge funds own 97.94% of the company’s stock.
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Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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