Conduent (NYSE:CNDT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Conduent Incorporated is a business process services company. It engaged in providing business and government services to citizens, patients, customers and employees. The services rendered by the company include healthcare solutions, BPO services, learning services, digital payments, legal and compliance solutions, human resources, finance and accounting, procurement solutions and digital transformation. The company serves aerospace defence and automotive services, banking, communication and media, healthcare, industrial and energy, insurance, retail and consumer products and transportation industries. Conduent Incorporated is based in Basking Ridge, N.J. “
Several other research analysts also recently issued reports on CNDT. BMO Capital Markets restated a “market perform” rating and set a $19.00 price objective (up previously from $17.00) on shares of Conduent in a report on Thursday, February 22nd. Needham & Company LLC upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Tuesday, March 6th. Cowen reiterated a “hold” rating on shares of Conduent in a research report on Tuesday, February 27th. Susquehanna Bancshares assumed coverage on shares of Conduent in a research report on Wednesday, March 7th. They set a “positive” rating and a $23.00 target price on the stock. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $20.00 target price (up from $17.50) on shares of Conduent in a research report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.50.
Shares of NYSE:CNDT traded down $0.20 on Thursday, hitting $19.55. 1,232,115 shares of the company were exchanged, compared to its average volume of 2,296,097. Conduent has a one year low of $14.95 and a one year high of $20.32. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $4,114.67, a price-to-earnings ratio of 23.00 and a beta of -0.69.
Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.05. Conduent had a net margin of 3.01% and a return on equity of 5.53%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue was down 1.4% compared to the same quarter last year. equities analysts predict that Conduent will post 1.09 EPS for the current year.
Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after buying an additional 527 shares in the last quarter. Financial Consulate Inc. acquired a new position in Conduent in the fourth quarter valued at about $181,000. State of Alaska Department of Revenue acquired a new position in Conduent in the fourth quarter valued at about $215,000. Xact Kapitalforvaltning AB acquired a new position in Conduent in the fourth quarter valued at about $265,000. Finally, Yellowstone Partners LLC boosted its position in Conduent by 27.2% in the fourth quarter. Yellowstone Partners LLC now owns 18,528 shares of the company’s stock valued at $299,000 after buying an additional 3,962 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.
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Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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