Conduent (NASDAQ:CNDT) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Conduent (NASDAQ:CNDT) from a sell rating to a strong sell rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the stock. Zacks Research downgraded shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Conduent Stock Performance

NASDAQ CNDT opened at $1.49 on Friday. The company has a market cap of $231.72 million, a P/E ratio of -0.98 and a beta of 1.47. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55. The stock has a 50-day moving average of $1.62 and a two-hundred day moving average of $1.54. Conduent has a 1-year low of $1.15 and a 1-year high of $2.36.

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). Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%. The business had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $702.00 million. As a group, analysts anticipate that Conduent will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Conduent

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC increased its stake in shares of Conduent by 30.9% during the second quarter. Headlands Technologies LLC now owns 54,683 shares of the company’s stock worth $80,000 after buying an additional 12,919 shares during the period. StoneX Group Inc. acquired a new stake in Conduent in the third quarter valued at approximately $27,000. Nierenberg Investment Management Company LLC purchased a new position in Conduent in the second quarter worth approximately $25,630. GSA Capital Partners LLP purchased a new position in Conduent in the second quarter worth approximately $30,000. Finally, Pallas Capital Advisors LLC purchased a new position in Conduent in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Company Profile

Conduent Incorporated (NASDAQ: CNDT) provides business process services and technology solutions to government agencies and commercial organizations. Its services are designed to help clients manage complex administrative processes, improve customer interactions and modernize operations through digital tools and automation.

The company’s offerings include transportation and mobility services, such as electronic tolling, transit fare collection and traffic-management solutions; government services, including public benefits administration, payment processing and constituent support; and commercial services covering customer experience, claims and benefits administration, human resources and other business processes.

Conduent was established as an independent company following its separation from Xerox in 2017.