Zacks Investment Research downgraded shares of Conduent (NYSE:CNDT) from a buy rating to a hold rating in a report released on Wednesday.

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 analysts have also weighed in on CNDT. BMO Capital Markets reissued a hold rating on shares of Conduent in a report on Wednesday, June 13th. Morgan Stanley upped their target price on Conduent from $20.00 to $22.00 and gave the company an equal weight rating in a report on Tuesday, June 12th. Finally, JPMorgan Chase & Co. raised Conduent from a neutral rating to an overweight rating and set a $15.00 target price on the stock in a report on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $23.00.

NYSE:CNDT opened at $19.90 on Wednesday. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of 23.41 and a beta of -0.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 2.03. Conduent has a 1 year low of $14.95 and a 1 year high of $23.39.

Conduent (NYSE:CNDT) last released its quarterly earnings data on Wednesday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Conduent had a return on equity of 6.53% and a net margin of 2.63%. Conduent’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Conduent will post 1.15 EPS for the current year.

In other Conduent news, President David Amoriell sold 33,903 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $21.30, for a total value of $722,133.90. Following the sale, the president now owns 83,888 shares of the company’s stock, valued at $1,786,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd boosted its stake in shares of Conduent by 170.1% during the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock valued at $109,000 after acquiring an additional 3,777 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Conduent during the second quarter valued at $142,000. BNP Paribas Arbitrage SA boosted its stake in shares of Conduent by 416.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after acquiring an additional 6,427 shares during the last quarter. Cerebellum GP LLC acquired a new stake in shares of Conduent during the third quarter valued at $188,000. Finally, US Bancorp DE boosted its stake in shares of Conduent by 67.1% during the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after acquiring an additional 3,366 shares during the last quarter. 93.62% of the stock is currently owned by institutional investors and hedge funds.

Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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