Conduent (NASDAQ:CNDT) Stock Rating Upgraded by StockNews.com

Conduent (NASDAQ:CNDT) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, Noble Financial began coverage on shares of Conduent in a research note on Thursday, March 14th. They issued an “outperform” rating and a $9.00 target price on the stock.

Conduent Stock Performance

Shares of CNDT opened at $3.81 on Wednesday. The stock has a 50 day moving average of $3.31 and a 200 day moving average of $3.31. The company has a market capitalization of $779.45 million, a price-to-earnings ratio of -4.23 and a beta of 1.60. Conduent has a 12 month low of $2.40 and a 12 month high of $4.08. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $953.00 million for the quarter, compared to analysts’ expectations of $930.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.48%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share. As a group, sell-side analysts forecast that Conduent will post 1.06 earnings per share for the current year.

Institutional Trading of Conduent

Several hedge funds have recently made changes to their positions in the company. Diversified Trust Co increased its holdings in Conduent by 9.2% in the 1st quarter. Diversified Trust Co now owns 50,866 shares of the company’s stock worth $172,000 after acquiring an additional 4,306 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Conduent by 5.8% in the third quarter. Hsbc Holdings PLC now owns 124,397 shares of the company’s stock valued at $433,000 after purchasing an additional 6,847 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Conduent by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 25,470 shares of the company’s stock valued at $89,000 after buying an additional 7,174 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new position in Conduent in the 4th quarter worth approximately $36,000. Finally, Moody National Bank Trust Division grew its stake in Conduent by 22.2% in the 4th quarter. Moody National Bank Trust Division now owns 67,798 shares of the company’s stock valued at $247,000 after buying an additional 12,314 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.