Zacks Investment Research upgraded shares of Conduent (NYSE:CNDT) from a hold rating to a buy rating in a research note released on Monday morning. They currently have $18.00 price target on the stock.
According to Zacks, “Conduent Incorporated is a business process services company. It engaged in providing business and government services to citizens, patients, customers and employees. The services rendered by the company include healthcare solutions, BPO services, learning services, digital payments, legal and compliance solutions, human resources, finance and accounting, procurement solutions and digital transformation. The company serves aerospace defence and automotive services, banking, communication and media, healthcare, industrial and energy, insurance, retail and consumer products and transportation industries. Conduent Incorporated is based in Basking Ridge, N.J. “
Several other equities research analysts have also recently issued reports on CNDT. BMO Capital Markets reiterated a hold rating and issued a $18.00 price target on shares of Conduent in a research note on Thursday, September 28th. BidaskClub cut Conduent from a sell rating to a strong sell rating in a research note on Wednesday, October 18th. Cowen reiterated a hold rating on shares of Conduent in a research note on Friday, October 6th. Needham & Company LLC assumed coverage on Conduent in a research note on Wednesday, September 13th. They issued a hold rating for the company. Finally, Cross Research upgraded Conduent from a hold rating to a buy rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Conduent currently has an average rating of Hold and an average target price of $19.00.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The business’s revenue was down 7.3% compared to the same quarter last year. research analysts anticipate that Conduent will post 0.81 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Beacon Financial Group lifted its stake in Conduent by 116.3% during the fourth quarter. Beacon Financial Group now owns 100,045 shares of the company’s stock worth $1,617,000 after purchasing an additional 53,791 shares during the last quarter. Rubric Capital Management LP lifted its stake in Conduent by 55.5% during the third quarter. Rubric Capital Management LP now owns 1,834,801 shares of the company’s stock worth $28,751,000 after purchasing an additional 655,000 shares during the last quarter. Yellowstone Partners LLC bought a new stake in Conduent during the third quarter worth $228,000. Neuberger Berman Group LLC lifted its stake in Conduent by 2.0% during the third quarter. Neuberger Berman Group LLC now owns 1,782,785 shares of the company’s stock worth $27,936,000 after purchasing an additional 34,394 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in Conduent by 1.5% during the third quarter. California Public Employees Retirement System now owns 370,820 shares of the company’s stock worth $5,811,000 after purchasing an additional 5,600 shares during the last quarter. Hedge funds and other institutional investors own 88.67% of the company’s stock.
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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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