Conduent Incorporated (NASDAQ:CNDT) Receives $7.00 Consensus Target Price from Analysts

Conduent Incorporated (NASDAQ:CNDT – Get Rating) has been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.00.

Several brokerages recently commented on CNDT. Zacks Investment Research downgraded Conduent from a “hold” rating to a “sell” rating in a research note on Friday, April 29th. TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a research note on Wednesday, February 9th. Finally, Cowen dropped their price target on Conduent from $6.00 to $5.00 in a research note on Thursday, February 17th.

Shares of CNDT traded up $0.09 on Friday, hitting $4.66. The company’s stock had a trading volume of 1,417,098 shares, compared to its average volume of 1,558,401. The company has a market capitalization of $1.00 billion, a PE ratio of 9.51 and a beta of 1.66. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.77 and a quick ratio of 1.77. Conduent has a fifty-two week low of $4.12 and a fifty-two week high of $8.50. The company has a 50 day moving average price of $5.05 and a 200 day moving average price of $5.23.

Conduent (NASDAQ:CNDT – Get Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Conduent had a return on equity of 12.26% and a net margin of 2.92%. The firm had revenue of $967.00 million for the quarter, compared to the consensus estimate of $970.75 million. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, equities analysts forecast that Conduent will post 0.38 EPS for the current year.

In related news, EVP Louis Edward Keyes purchased 15,000 shares of the stock in a transaction dated Monday, May 9th. The stock was bought at an average cost of $4.65 per share, for a total transaction of $69,750.00. Following the completion of the acquisition, the executive vice president now owns 434,182 shares of the company’s stock, valued at $2,018,946.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael E. Krawitz purchased 20,000 shares of the stock in a transaction dated Thursday, May 5th. The shares were bought at an average price of $4.46 per share, with a total value of $89,200.00. Following the completion of the acquisition, the executive vice president now directly owns 755,698 shares of the company’s stock, valued at approximately $3,370,413.08. The disclosure for this purchase can be found here. 0.99% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in Conduent by 6.9% during the first quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock valued at $87,546,000 after acquiring an additional 1,099,590 shares during the last quarter. William Blair Investment Management LLC boosted its position in Conduent by 48,066.0% during the third quarter. William Blair Investment Management LLC now owns 6,991,292 shares of the company’s stock valued at $46,073,000 after acquiring an additional 6,976,777 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Conduent by 6.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,785,151 shares of the company’s stock valued at $35,011,000 after acquiring an additional 404,768 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Conduent by 11.0% during the 1st quarter. Victory Capital Management Inc. now owns 4,232,123 shares of the company’s stock worth $21,892,000 after purchasing an additional 418,521 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its position in shares of Conduent by 12.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 3,810,886 shares of the company’s stock worth $20,351,000 after purchasing an additional 411,422 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors.

About Conduent (Get Rating)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

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