Conduent (NASDAQ:CNDT) Raised to Sell at Wall Street Zen

Conduent (NASDAQ:CNDT) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities research analysts have also commented on CNDT. Zacks Research lowered shares of Conduent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold”.

Conduent Price Performance

Shares of CNDT opened at $1.79 on Friday. Conduent has a twelve month low of $1.15 and a twelve month high of $2.66. The stock’s 50 day moving average is $1.62 and its two-hundred day moving average is $1.58. The firm has a market capitalization of $278.38 million, a PE ratio of -1.18 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. The company had revenue of $531.00 million during the quarter, compared to analyst estimates of $702.00 million. Research analysts anticipate that Conduent will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On Conduent

A number of institutional investors and hedge funds have recently bought and sold shares of CNDT. Engineers Gate Manager LP acquired a new position in shares of Conduent in the second quarter worth about $131,000. Headlands Technologies LLC raised its holdings in Conduent by 30.9% in the second quarter. Headlands Technologies LLC now owns 54,683 shares of the company’s stock valued at $80,000 after acquiring an additional 12,919 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Conduent in the 2nd quarter valued at about $286,000. Public Employees Retirement System of Ohio bought a new position in shares of Conduent during the second quarter worth about $52,000. Finally, Pingora Partners LLC bought a new stake in Conduent in the second quarter valued at about $425,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

About Conduent

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.