Conduent Inc (NYSE:CNDT) – SunTrust Banks lifted their Q1 2018 earnings estimates for Conduent in a research report issued on Friday. SunTrust Banks analyst F. Atkins now anticipates that the company will post earnings of $0.22 per share for the quarter, up from their previous forecast of $0.19. SunTrust Banks has a “Buy” rating and a $22.00 price objective on the stock. SunTrust Banks also issued estimates for Conduent’s 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.
CNDT has been the topic of several other research reports. BidaskClub upgraded Conduent from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, February 8th. BMO Capital Markets lowered their price target on Conduent from $18.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, November 9th. Morgan Stanley reiterated an “equal weight” rating and set a $20.00 price target (up previously from $17.50) on shares of Conduent in a report on Thursday, February 22nd. Finally, Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.67.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.26 by $0.05. Conduent had a return on equity of 5.62% and a net margin of 3.01%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company posted $0.29 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the company. Rice Hall James & Associates LLC acquired a new stake in shares of Conduent in the fourth quarter worth $12,636,000. Corbyn Investment Management Inc. MD grew its stake in shares of Conduent by 77.8% in the fourth quarter. Corbyn Investment Management Inc. MD now owns 793,985 shares of the company’s stock worth $12,831,000 after acquiring an additional 347,373 shares during the last quarter. Boyar Asset Management Inc. acquired a new stake in shares of Conduent in the third quarter worth $1,898,000. Alambic Investment Management L.P. grew its stake in shares of Conduent by 28.9% in the fourth quarter. Alambic Investment Management L.P. now owns 94,500 shares of the company’s stock worth $1,527,000 after acquiring an additional 21,200 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of Conduent by 448.0% in the third quarter. Dynamic Technology Lab Private Ltd now owns 119,557 shares of the company’s stock worth $1,874,000 after acquiring an additional 97,741 shares during the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.
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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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