Conduent Inc (CNDT) Receives Average Rating of “Hold” from Brokerages

Shares of Conduent Inc (NYSE:CNDT) have been given a consensus rating of “Hold” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $21.50.

A number of equities research analysts recently weighed in on CNDT shares. BMO Capital Markets reaffirmed a “hold” rating on shares of Conduent in a research note on Wednesday, August 8th. Zacks Investment Research raised shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Monday, August 13th. JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 target price on the stock in a research note on Tuesday, August 14th. SunTrust Banks lowered their target price on shares of Conduent to $18.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Morgan Stanley set a $16.00 target price on shares of Conduent and gave the company a “hold” rating in a research note on Thursday.

In related news, President David Amoriell sold 33,903 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $21.30, for a total value of $722,133.90. Following the sale, the president now directly owns 83,888 shares of the company’s stock, valued at $1,786,814.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CNDT. Point72 Hong Kong Ltd grew its position in Conduent by 170.1% during the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock valued at $109,000 after acquiring an additional 3,777 shares during the last quarter. Group One Trading L.P. grew its position in Conduent by 673.6% during the third quarter. Group One Trading L.P. now owns 6,046 shares of the company’s stock valued at $136,000 after acquiring an additional 7,100 shares during the last quarter. SG Americas Securities LLC bought a new position in Conduent during the second quarter valued at approximately $142,000. BNP Paribas Arbitrage SA grew its position in Conduent by 416.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after acquiring an additional 6,427 shares during the last quarter. Finally, US Bancorp DE grew its position in Conduent by 67.1% during the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after acquiring an additional 3,366 shares during the last quarter. Institutional investors and hedge funds own 91.37% of the company’s stock.

Shares of Conduent stock traded down $0.18 on Friday, reaching $13.04. The stock had a trading volume of 6,581,400 shares, compared to its average volume of 2,005,626. Conduent has a 1 year low of $12.18 and a 1 year high of $23.39. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 15.34 and a beta of 0.88. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.57.

Conduent (NYSE:CNDT) last announced its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 earnings per share. On average, sell-side analysts predict that Conduent will post 1.12 earnings per share for the current year.

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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Analyst Recommendations for Conduent (NYSE:CNDT)

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