Wall Street Zen Downgrades Conduent (NASDAQ:CNDT) to Sell

Conduent (NASDAQ:CNDT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Conduent presently has a consensus rating of “Moderate Buy”.

Conduent Stock Up 0.7%

Shares of NASDAQ:CNDT opened at $1.47 on Friday. The business’s 50-day moving average is $1.70 and its 200-day moving average is $2.16. Conduent has a 1 year low of $1.18 and a 1 year high of $3.57. The company has a market capitalization of $227.42 million, a price-to-earnings ratio of -1.31 and a beta of 1.28. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.57 and a quick ratio of 1.57.

Conduent (NASDAQ:CNDT) last issued its earnings results on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $770.00 million during the quarter, compared to the consensus estimate of $790.50 million. Conduent had a negative return on equity of 8.03% and a negative net margin of 5.59%.The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Equities research analysts predict that Conduent will post -0.34 earnings per share for the current year.

Insider Activity

In related news, CEO Harshavardhan V. Agadi bought 117,099 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were bought at an average price of $1.56 per share, with a total value of $182,674.44. Following the completion of the transaction, the chief executive officer directly owned 337,099 shares in the company, valued at approximately $525,874.44. This represents a 53.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Fucci purchased 60,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average cost of $1.44 per share, with a total value of $86,400.00. Following the completion of the transaction, the director directly owned 166,102 shares in the company, valued at $239,186.88. The trade was a 56.55% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 337,099 shares of company stock worth $499,974 over the last 90 days. 2.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNDT. FNY Investment Advisers LLC increased its stake in Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after buying an additional 5,165 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Conduent in the 2nd quarter worth approximately $29,000. Modern Wealth Management LLC bought a new position in shares of Conduent in the third quarter valued at approximately $34,000. IHT Wealth Management LLC purchased a new stake in shares of Conduent during the second quarter valued at approximately $34,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Conduent during the third quarter worth $39,000. 77.28% of the stock is currently owned by hedge funds and other 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.