Shares of Conduent Inc (NASDAQ:CNDT) have received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.00.
Several brokerages have weighed in on CNDT. Cowen and Company began coverage on Conduent in a report on Friday, May 19th. They issued a “market perform” rating and a $18.00 price target for the company. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, August 2nd. Finally, Citigroup Inc reissued a “buy” rating and issued a $25.00 price target (up previously from $17.00) on shares of Conduent in a report on Friday, June 9th.
In related news, EVP David Amoriell sold 3,889 shares of Conduent stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $16.66, for a total transaction of $64,790.74. Following the completion of the sale, the executive vice president now owns 120,630 shares of the company’s stock, valued at $2,009,695.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. increased its stake in Conduent by 213.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after buying an additional 6,046 shares during the period. Pacad Investment Ltd. purchased a new stake in Conduent during the second quarter worth approximately $161,000. Community Financial Services Group LLC purchased a new stake in Conduent during the first quarter worth approximately $202,000. Trexquant Investment LP purchased a new stake in Conduent during the second quarter worth approximately $204,000. Finally, Teacher Retirement System of Texas increased its stake in Conduent by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock worth $220,000 after buying an additional 98 shares during the period.
Conduent (CNDT) opened at 17.08 on Friday. The company’s market cap is $3.58 billion. The firm’s 50-day moving average is $16.28 and its 200 day moving average is $16.08. Conduent has a 1-year low of $13.10 and a 1-year high of $18.15.
Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative return on equity of 1.22% and a negative net margin of 0.64%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. Analysts predict that Conduent will post $0.76 earnings per share for the current fiscal year.
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Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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