Conduent Incorporated (NASDAQ:CNDT) Receives Average Rating of “Hold” from Brokerages

Posted by on Jun 1st, 2022

Conduent Incorporated (NASDAQ:CNDT – Get Rating) has been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating and three have issued a hold rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.00.

CNDT has been the subject of several recent research reports. Zacks Investment Research cut shares of Conduent from a “hold” rating to a “sell” rating in a report on Friday, April 29th. Cowen cut their price target on shares of Conduent from $6.00 to $5.00 in a research note on Thursday, February 17th. Finally, TheStreet upgraded shares of Conduent from a “d+” rating to a “c” rating in a research note on Tuesday, May 24th.

In other Conduent news, EVP Louis Edward Keyes purchased 15,000 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of $4.65 per share, with a total value of $69,750.00. Following the completion of the transaction, the executive vice president now owns 434,182 shares in the company, valued at $2,018,946.30. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael E. Krawitz purchased 20,000 shares of the stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average cost of $4.46 per share, for a total transaction of $89,200.00. Following the completion of the transaction, the executive vice president now 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. Company insiders own 0.99% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Mariner LLC increased its holdings in Conduent by 5.0% in the 1st quarter. Mariner LLC now owns 47,807 shares of the company’s stock valued at $246,000 after buying an additional 2,270 shares during the period. Guggenheim Capital LLC increased its holdings in Conduent by 2.0% in the 4th quarter. Guggenheim Capital LLC now owns 121,552 shares of the company’s stock valued at $649,000 after buying an additional 2,368 shares during the period. Graham Capital Management L.P. boosted its position in Conduent by 5.5% during the 1st quarter. Graham Capital Management L.P. now owns 57,637 shares of the company’s stock worth $297,000 after buying an additional 3,025 shares during the period. California State Teachers Retirement System boosted its position in Conduent by 1.9% during the 4th quarter. California State Teachers Retirement System now owns 235,412 shares of the company’s stock worth $1,257,000 after buying an additional 4,343 shares during the period. Finally, ClariVest Asset Management LLC boosted its position in Conduent by 4.7% during the 1st quarter. ClariVest Asset Management LLC now owns 106,138 shares of the company’s stock worth $549,000 after buying an additional 4,800 shares during the period. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of CNDT stock opened at $5.30 on Wednesday. The firm has a fifty day moving average of $5.14 and a 200-day moving average of $5.09. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 1.01. Conduent has a 12-month low of $4.12 and a 12-month high of $8.50. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 10.82 and a beta of 1.66.

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

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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