Conduent (NASDAQ:CNDT) Upgraded to Buy at StockNews.com

Conduent (NASDAQ:CNDT) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

Separately, Noble Financial initiated coverage on shares of Conduent in a research report on Thursday, March 14th. They issued an “outperform” rating and a $9.00 target price for the company.

Conduent Stock Down 0.3 %

CNDT stock opened at $3.81 on Wednesday. The stock has a market capitalization of $779.45 million, a P/E ratio of -4.23 and a beta of 1.60. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.91 and a quick ratio of 1.91. Conduent has a 1-year low of $2.40 and a 1-year high of $4.08. The business has a fifty day moving average price of $3.31 and a 200-day moving average price of $3.31.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Conduent had a negative net margin of 5.13% and a negative return on equity of 2.48%. The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $930.00 million. During the same quarter in the prior year, the company posted $0.01 EPS. Conduent’s revenue was down 3.3% on a year-over-year basis. Equities analysts forecast that Conduent will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC bought a new position in shares of Conduent in the 4th quarter worth approximately $36,000. NewEdge Wealth LLC purchased a new position in shares of Conduent during the 4th quarter worth $48,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Conduent during the 4th quarter valued at $48,000. Headlands Technologies LLC increased its stake in shares of Conduent by 1,084.3% in the 1st quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock worth $49,000 after purchasing an additional 13,153 shares in the last quarter. Finally, Qtron Investments LLC purchased a new position in Conduent during the third quarter valued at $51,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.