Conduent (NASDAQ:CNDT) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of Conduent (NASDAQ:CNDT) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other brokerages have also issued reports on CNDT. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research note on Friday, July 17th. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Conduent currently has an average rating of “Moderate Buy”.

Conduent Trading Down 1.9%

Shares of NASDAQ CNDT opened at $1.55 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. The business’s 50 day moving average price is $1.51 and its 200-day moving average price is $1.50. Conduent has a fifty-two week low of $1.15 and a fifty-two week high of $2.98. The company has a market cap of $241.06 million, a price-to-earnings ratio of -1.02 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The business had revenue of $531.00 million for the quarter, compared to the consensus estimate of $702.00 million. Conduent had a negative return on equity of 8.50% and a negative net margin of 8.17%. On average, sell-side analysts expect that Conduent will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Conduent

A number of institutional investors and hedge funds have recently bought and sold shares of CNDT. Global Retirement Partners LLC lifted its holdings in shares of Conduent by 28,720.0% in the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after buying an additional 14,360 shares during the period. Boothbay Fund Management LLC bought a new stake in shares of Conduent in the second quarter valued at about $29,000. Pallas Capital Advisors LLC purchased a new stake in shares of Conduent in the 2nd quarter worth approximately $30,000. GSA Capital Partners LLP purchased a new stake in shares of Conduent in the 2nd quarter worth approximately $30,000. Finally, M&T Bank Corp bought a new position in shares of Conduent during the fourth quarter valued at approximately $33,000. 77.28% of the stock is owned by institutional investors.

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.