Wall Street Zen Upgrades Conduent (NASDAQ:CNDT) to “Hold”

Conduent (NASDAQ:CNDT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Conduent Stock Performance

CNDT opened at $1.59 on Friday. Conduent has a 1-year low of $1.18 and a 1-year high of $3.94. The company has a market cap of $243.10 million, a price-to-earnings ratio of -1.42 and a beta of 1.31. The company’s fifty day moving average price is $1.76 and its two-hundred day moving average price is $2.21. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.97.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Conduent had a negative net margin of 5.59% and a negative return on equity of 7.82%. The business had revenue of $770.00 million for the quarter, compared to analyst estimates of $790.50 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts expect that Conduent will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Conduent

In other news, Director Hernandez Margarita Palau acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was purchased at an average price of $1.45 per share, for a total transaction of $72,500.00. Following the purchase, the director owned 50,000 shares in the company, valued at approximately $72,500. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Fucci bought 60,000 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was acquired at an average price of $1.44 per share, for a total transaction of $86,400.00. Following the purchase, the director directly owned 166,102 shares in the company, valued at approximately $239,186.88. The trade was a 56.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 220,000 shares of company stock worth $317,300. Insiders own 2.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNDT. AQR Capital Management LLC raised its stake in shares of Conduent by 106.7% during the 1st quarter. AQR Capital Management LLC now owns 740,375 shares of the company’s stock worth $1,999,000 after purchasing an additional 382,191 shares during the period. Goldman Sachs Group Inc. grew its position in Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after buying an additional 11,428 shares during the period. Caxton Associates LLP purchased a new stake in Conduent during the first quarter worth about $249,000. Empowered Funds LLC raised its position in Conduent by 3.0% in the first quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock worth $2,333,000 after acquiring an additional 25,515 shares during the period. Finally, Jane Street Group LLC raised its position in Conduent by 20.9% in the first quarter. Jane Street Group LLC now owns 397,856 shares of the company’s stock worth $1,074,000 after acquiring an additional 68,860 shares during the period. Institutional investors own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.