Conduent Inc (CNDT) Raised to Sell at BidaskClub
BidaskClub upgraded shares of Conduent Inc (NASDAQ:CNDT) from a strong sell rating to a sell rating in a research report sent to investors on Thursday.
Several other equities analysts have also commented on CNDT. BMO Capital Markets reissued a hold rating and issued a $18.00 target price on shares of Conduent in a report on Thursday, September 28th. Zacks Investment Research lowered Conduent from a buy rating to a hold rating in a report on Wednesday, August 16th. Cowen and Company reaffirmed a hold rating on shares of Conduent in a report on Friday, October 6th. Cross Research raised Conduent from a hold rating to a buy rating in a report on Tuesday, November 7th. Finally, Needham & Company LLC assumed coverage on Conduent in a report on Wednesday, September 13th. They set a hold rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $18.43.
Conduent (NASDAQ:CNDT) traded down $0.09 during trading hours on Thursday, reaching $15.81. The company had a trading volume of 1,829,376 shares, compared to its average volume of 2,510,000. Conduent has a 52-week low of $13.10 and a 52-week high of $18.15.
Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. Conduent’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share.
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In other Conduent news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the transaction, the executive vice president now owns 120,630 shares of the company’s stock, valued at $2,051,916.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Hedge funds have recently modified their holdings of the business. Howard Hughes Medical Institute purchased a new position in shares of Conduent during the second quarter worth about $566,000. Teacher Retirement System of Texas boosted its stake in shares of Conduent by 0.7% during 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. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Conduent by 759.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,033 shares of the company’s stock worth $750,000 after buying an additional 41,558 shares during the period. Kirr Marbach & Co. LLC IN acquired a new stake in shares of Conduent during the second quarter worth about $8,922,000. Finally, ARGA Investment Management LP boosted its stake in shares of Conduent by 28.9% during the second quarter. ARGA Investment Management LP now owns 321,400 shares of the company’s stock worth $5,123,000 after buying an additional 72,100 shares during the period.
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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