Conduent Inc (CNDT) Given Average Rating of “Hold” by Analysts
Shares of Conduent Inc (NASDAQ:CNDT) have been given a consensus recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.00.
CNDT has been the topic of a number of recent research reports. Cowen and Company reaffirmed a “hold” rating and set a $18.00 price objective on shares of Conduent in a research note on Friday, July 28th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, August 2nd. Needham & Company LLC initiated coverage on Conduent in a research note on Wednesday, September 13th. They set a “hold” rating on the stock. BidaskClub cut Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $18.00 price objective on shares of Conduent in a research note on Thursday, September 28th.
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Conduent (CNDT) opened at 15.50 on Wednesday. The firm’s market capitalization is $3.26 billion. Conduent has a one year low of $13.10 and a one year high of $18.15. The firm’s 50-day moving average price is $15.88 and its 200 day moving average price is $16.30.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities analysts anticipate that Conduent will post $0.76 earnings per share for the current fiscal year.
In other Conduent news, EVP David Amoriell sold 106,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total value of $1,811,565.00. Following the sale, the executive vice president now owns 120,630 shares in the company, valued at approximately $2,051,916.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
A number of hedge funds have recently made changes to their positions in CNDT. Cohen Capital Management Inc. purchased a new stake in Conduent in the 2nd quarter worth $1,881,000. Nisa Investment Advisors LLC lifted its stake in Conduent by 7.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock worth $483,000 after purchasing an additional 2,000 shares in the last quarter. Alpha Windward LLC lifted its stake in Conduent by 1.5% in the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock worth $557,000 after purchasing an additional 524 shares in the last quarter. Kirr Marbach & Co. LLC IN purchased a new stake in Conduent in the 2nd quarter worth $8,922,000. Finally, First Quadrant L P CA lifted its stake in Conduent by 79.3% in the 2nd quarter. First Quadrant L P CA now owns 133,907 shares of the company’s stock worth $2,134,000 after purchasing an additional 59,210 shares in 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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