Conduent (CNDT) Stock Rating Lowered by ValuEngine

Conduent (NYSE:CNDT) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

CNDT has been the subject of several other research reports. SunTrust Banks lowered their price objective on shares of Conduent to $18.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. cut shares of Conduent to a “buy” rating and set a $24.00 price objective for the company. in a research report on Wednesday, August 15th. BMO Capital Markets restated a “hold” rating on shares of Conduent in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Monday, August 13th. Finally, Morgan Stanley set a $16.00 price objective on shares of Conduent and gave the company a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Conduent has a consensus rating of “Hold” and an average target price of $21.57.

CNDT opened at $13.04 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 15.34 and a beta of 0.88. Conduent has a 1-year low of $12.18 and a 1-year high of $23.39.

Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Conduent had a negative net margin of 1.21% and a positive return on equity of 6.80%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS. As a group, equities research analysts forecast that Conduent will post 1.1 EPS for the current year.

In related news, President David Amoriell sold 33,903 shares of Conduent stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $21.30, for a total transaction of $722,133.90. Following the transaction, the president now owns 83,888 shares of the company’s stock, valued at approximately $1,786,814.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CNDT. Trexquant Investment LP bought a new position in Conduent in the third quarter valued at approximately $1,012,000. FMR LLC lifted its stake in Conduent by 7.8% in the third quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after buying an additional 1,711,445 shares in the last quarter. Ffcm LLC lifted its stake in Conduent by 377.8% in the third quarter. Ffcm LLC now owns 168,171 shares of the company’s stock valued at $3,785,000 after buying an additional 132,971 shares in the last quarter. Blue Sky Asset Management LLC bought a new position in Conduent in the third quarter valued at approximately $985,000. Finally, BlackRock Inc. lifted its stake in Conduent by 1.3% in the third quarter. BlackRock Inc. now owns 8,173,854 shares of the company’s stock valued at $184,074,000 after buying an additional 104,690 shares in the last quarter. 91.37% of the stock is currently owned by institutional investors and hedge funds.

About Conduent

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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