Conduent Inc (NYSE:CNDT) has earned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $21.20.
A number of research firms have weighed in on CNDT. SunTrust Banks reaffirmed a “buy” rating and set a $22.00 target price on shares of Conduent in a research note on Friday. Zacks Investment Research raised shares of Conduent from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday. Morgan Stanley reaffirmed an “equal weight” rating and set a $20.00 target price (up previously from $17.50) on shares of Conduent in a research note on Thursday, February 22nd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $19.00 target price (up previously from $17.00) on shares of Conduent in a research note on Thursday, February 22nd.
Several institutional investors have recently modified their holdings of CNDT. Ameriprise Financial Inc. grew its stake in shares of Conduent by 170.2% in the second quarter. Ameriprise Financial Inc. now owns 173,931 shares of the company’s stock worth $2,772,000 after purchasing an additional 109,555 shares during the last quarter. Nationwide Fund Advisors bought a new stake in shares of Conduent in the second quarter worth $701,000. State Street Corp grew its stake in shares of Conduent by 46.6% in the second quarter. State Street Corp now owns 2,511,213 shares of the company’s stock worth $40,035,000 after purchasing an additional 798,390 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after purchasing an additional 527 shares during the last quarter. Finally, First Quadrant L P CA grew its stake in shares of Conduent by 96.9% in the third quarter. First Quadrant L P CA now owns 263,659 shares of the company’s stock worth $4,132,000 after purchasing an additional 129,752 shares during the last quarter. 97.94% of the stock is currently owned by institutional investors.
Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Conduent had a net margin of 3.01% and a return on equity of 5.62%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 earnings per share. sell-side analysts expect that Conduent will post 1.06 EPS for the current year.
ILLEGAL ACTIVITY WARNING: “Conduent Inc (CNDT) Receives Average Rating of “Hold” from Brokerages” was first reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this story on another publication, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright law. The correct version of this story can be viewed at https://www.tickerreport.com/banking-finance/3224672/conduent-inc-cndt-receives-average-rating-of-hold-from-brokerages.html.
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).
Receive News & Ratings for Conduent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent and related companies with MarketBeat.com's FREE daily email newsletter.