Zacks Research Downgrades Conduent (NASDAQ:CNDT) to Hold

Conduent (NASDAQ:CNDT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Conduent Stock Down 1.9%

NASDAQ:CNDT opened at $1.55 on Tuesday. The firm’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $1.50. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.59 and a quick ratio of 1.59. Conduent has a one year low of $1.15 and a one year high of $2.98. The company has a market cap of $241.06 million, a PE ratio of -1.02 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The business had revenue of $531.00 million during the quarter, compared to analyst estimates of $702.00 million. Conduent had a negative net margin of 8.17% and a negative return on equity of 8.50%. On average, research analysts anticipate that Conduent will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Conduent

Institutional investors and hedge funds have recently made changes to their positions in the business. Global Retirement Partners LLC grew its stake in Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after purchasing an additional 14,360 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Conduent during the 2nd quarter worth approximately $29,000. Pallas Capital Advisors LLC acquired a new stake in shares of Conduent during the 2nd quarter worth approximately $30,000. GSA Capital Partners LLP acquired a new stake in shares of Conduent during the 2nd quarter worth approximately $30,000. Finally, M&T Bank Corp bought a new stake in shares of Conduent in the 4th quarter valued at $33,000. Institutional investors own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.