SunTrust Banks restated their buy rating on shares of Conduent (NYSE:CNDT) in a report issued on Friday morning. SunTrust Banks currently has a $22.00 target price on the stock. SunTrust Banks also issued estimates for Conduent’s Q1 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.12 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.23 EPS.
Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Conduent from a buy rating to a hold rating in a research note on Friday, December 29th. BMO Capital Markets reissued a market perform rating and set a $19.00 price target (up from $17.00) on shares of Conduent in a research note on Thursday. BidaskClub raised shares of Conduent from a strong sell rating to a sell rating in a research note on Thursday, November 9th. Morgan Stanley reaffirmed an equal weight rating and issued a $20.00 target price (up from $17.50) on shares of Conduent in a research note on Thursday. Finally, Cross Research raised shares of Conduent from a hold rating to a buy rating in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $20.67.
Conduent (CNDT) opened at $18.73 on Friday. The company has a market cap of $3,940.00 and a P/E ratio of -187.30. Conduent has a one year low of $14.95 and a one year high of $18.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.74 and a current ratio of 1.74.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Frontier Capital Management Co. LLC increased its stake in shares of Conduent by 3.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 9,249,526 shares of the company’s stock worth $149,472,000 after buying an additional 350,431 shares during the period. BlackRock Inc. increased its stake in shares of Conduent by 1.4% in the fourth quarter. BlackRock Inc. now owns 7,905,473 shares of the company’s stock worth $127,753,000 after buying an additional 108,503 shares during the period. Governors Lane LP increased its stake in shares of Conduent by 19.5% in the fourth quarter. Governors Lane LP now owns 6,285,294 shares of the company’s stock worth $101,570,000 after buying an additional 1,023,871 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Conduent by 23.7% in the third quarter. Dimensional Fund Advisors LP now owns 4,030,034 shares of the company’s stock worth $63,151,000 after buying an additional 771,222 shares during the period. Finally, Investec Asset Management LTD purchased a new position in shares of Conduent in the fourth quarter worth $50,741,000. 97.94% of the stock is currently owned by institutional investors.
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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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