Conduent (NASDAQ:CNDT) Upgraded by Zacks Research to “Strong-Buy” Rating

Conduent (NASDAQ:CNDT) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research note on Monday, April 20th. Wall Street Zen raised Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Noble Financial upgraded shares of Conduent to a “strong-buy” rating in a research report on Tuesday, May 12th. Three research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Conduent Stock Up 0.7%

Shares of CNDT stock opened at $1.54 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.59 and a quick ratio of 1.59. Conduent has a one year low of $1.15 and a one year high of $2.98. The company’s fifty day moving average price is $1.53 and its 200-day moving average price is $1.55. The company has a market capitalization of $238.85 million, a price-to-earnings ratio of -1.51 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last issued its earnings results on Monday, May 11th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.12. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. The company had revenue of $723.00 million during the quarter, compared to the consensus estimate of $746.67 million. Sell-side analysts expect that Conduent will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Conduent

Several institutional investors have recently added to or reduced their stakes in CNDT. Renaissance Technologies LLC increased its stake in Conduent by 13.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,608,400 shares of the company’s stock worth $3,339,000 after acquiring an additional 311,300 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Conduent by 16.4% in the first quarter. Public Employees Retirement System of Ohio now owns 202,482 shares of the company’s stock valued at $259,000 after purchasing an additional 28,509 shares in the last quarter. Sei Investments Co. increased its position in Conduent by 141.3% in the first quarter. Sei Investments Co. now owns 327,157 shares of the company’s stock worth $419,000 after purchasing an additional 191,562 shares during the last quarter. GatePass Capital LLC increased its position in Conduent by 95.5% in the first quarter. GatePass Capital LLC now owns 466,950 shares of the company’s stock worth $598,000 after purchasing an additional 228,150 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new stake in Conduent during the first quarter valued at $51,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Company Profile

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.