Conduent Inc (CNDT) Given Hold Rating at Cowen and Company
Conduent Inc (NASDAQ:CNDT)‘s stock had its “hold” rating reaffirmed by research analysts at Cowen and Company in a report issued on Friday.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, August 2nd. Citigroup Inc. reiterated a “buy” rating and issued a $25.00 price objective (up from $17.00) on shares of Conduent in a report on Friday, June 9th. Needham & Company LLC started coverage on shares of Conduent in a report on Wednesday, September 13th. They issued a “hold” rating on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price objective on shares of Conduent in a report on Thursday, September 28th. Finally, BidaskClub downgraded shares of Conduent from a “sell” rating to a “strong sell” rating in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.14.
Shares of Conduent (NASDAQ:CNDT) traded down 0.62% during trading on Friday, hitting $15.94. The company’s stock had a trading volume of 1,450,862 shares. The firm’s 50 day moving average price is $15.81 and its 200-day moving average price is $15.81. Conduent has a 52 week low of $13.10 and a 52 week high of $17.12. The company’s market cap is $3.35 billion.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.16. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The business’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, analysts predict that Conduent will post $0.76 earnings per share for the current year.
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In related news, EVP David Amoriell sold 106,500 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the completion of the sale, the executive vice president now owns 120,630 shares of the company’s stock, valued at $2,051,916.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after acquiring an additional 527 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Conduent by 213.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after acquiring an additional 6,046 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Conduent in the second quarter worth about $161,000. Stevens Capital Management LP bought a new position in shares of Conduent in the second quarter worth about $161,000. Finally, Advisory Services Network LLC lifted its holdings in shares of Conduent by 173.9% in the second quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after acquiring an additional 6,929 shares during the last quarter.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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