Conduent (NASDAQ:CNDT) Shares Down 4.2% – Time to Sell?

Conduent Inc. (NASDAQ:CNDT)’s share price was down 4.2% during mid-day trading on Tuesday . The company traded as low as $1.60 and last traded at $1.61. Approximately 2,141,567 shares changed hands during trading, an increase of 101% from the average daily volume of 1,067,825 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

CNDT has been the subject of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. Wall Street Zen downgraded Conduent from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Conduent Stock Performance

The company has a debt-to-equity ratio of 0.97, a current ratio of 1.64 and a quick ratio of 1.64. The company’s fifty day simple moving average is $1.94 and its two-hundred day simple moving average is $2.35. The stock has a market cap of $246.15 million, a price-to-earnings ratio of -1.64, a P/E/G ratio of 42.00 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Friday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $767.00 million for the quarter, compared to analyst estimates of $792.00 million. Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, analysts forecast that Conduent Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Conduent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC purchased a new stake in shares of Conduent in the second quarter worth approximately $29,000. FNY Investment Advisers LLC grew its holdings in Conduent by 89.7% during the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after buying an additional 5,165 shares in the last quarter. Modern Wealth Management LLC purchased a new stake in Conduent in the 3rd quarter valued at $34,000. IHT Wealth Management LLC purchased a new stake in Conduent in the 2nd quarter valued at $34,000. Finally, HTG Investment Advisors Inc. bought a new position in Conduent during the 2nd quarter valued at $36,000. 77.28% of the stock is owned by institutional investors.

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.