Zacks Investment Research upgraded shares of Conduent Inc (NASDAQ:CNDT) from a hold rating to a buy rating in a research note released on Thursday. They currently have $18.00 target price 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 commented on the stock. BidaskClub cut shares of Conduent from a sell rating to a strong sell rating in a research report on Thursday, September 21st. Cowen and Company reiterated a hold rating and issued a $18.00 price target on shares of Conduent in a research report on Friday, July 28th. Needham & Company LLC started coverage on shares of Conduent in a research report on Wednesday, September 13th. They issued a hold rating on the stock. Cross Research upgraded shares of Conduent from a hold rating to a buy rating in a research report on Tuesday, November 7th. Finally, BMO Capital Markets reiterated a hold rating and issued a $18.00 price target on shares of Conduent in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Conduent currently has a consensus rating of Hold and an average target price of $18.43.

Shares of Conduent (NASDAQ:CNDT) opened at $15.81 on Thursday. Conduent has a 1 year low of $13.10 and a 1 year high of $18.15.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business earned $0.24 earnings per share. Conduent’s revenue for the quarter was down 7.3% compared to the same quarter last year.

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In related news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total value of $1,811,565.00. Following the transaction, the executive vice president now owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A number of institutional investors and hedge funds have recently modified their holdings of CNDT. The Manufacturers Life Insurance Company increased its stake in Conduent by 6.6% in the 2nd 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 in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after purchasing an additional 6,046 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Conduent in the 2nd quarter worth about $161,000. Stevens Capital Management LP purchased a new position in Conduent in the 2nd quarter worth about $161,000. Finally, Advisory Services Network LLC increased its stake in Conduent by 173.9% in the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after purchasing an additional 6,929 shares in the last quarter.

About Conduent

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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