Wall Street Zen Upgrades Conduent (NASDAQ:CNDT) to “Hold”

Conduent (NASDAQ:CNDT) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Conduent Stock Performance

NASDAQ:CNDT opened at $1.20 on Friday. The firm has a 50-day moving average of $1.51 and a two-hundred day moving average of $2.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $185.65 million, a P/E ratio of -1.07 and a beta of 1.28. Conduent has a 1-year low of $1.15 and a 1-year high of $3.10.

Conduent (NASDAQ:CNDT) last announced its earnings results on Thursday, February 12th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Conduent had a negative return on equity of 8.03% and a negative net margin of 5.59%.The business had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $790.50 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. On average, research analysts expect that Conduent will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Conduent

In other Conduent news, CEO Harshavardhan V. Agadi acquired 117,099 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was purchased at an average price of $1.56 per share, with a total value of $182,674.44. Following the completion of the acquisition, the chief executive officer directly owned 337,099 shares in the company, valued at $525,874.44. This trade represents a 53.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Fucci bought 60,000 shares of the stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of $1.44 per share, with a total value of $86,400.00. Following the purchase, the director owned 166,102 shares of the company’s stock, valued at $239,186.88. The trade was a 56.55% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 337,099 shares of company stock valued at $499,974. Corporate insiders own 2.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CNDT. Alpine Global Management LLC bought a new stake in shares of Conduent during the 4th quarter valued at about $82,000. Susquehanna Fundamental Investments LLC bought a new position in Conduent in the fourth quarter worth about $460,000. Occudo Quantitative Strategies LP boosted its stake in Conduent by 32.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 131,160 shares of the company’s stock valued at $252,000 after acquiring an additional 31,851 shares during the period. Millennium Management LLC boosted its stake in Conduent by 52.3% in the fourth quarter. Millennium Management LLC now owns 617,135 shares of the company’s stock valued at $1,185,000 after acquiring an additional 211,970 shares during the period. Finally, Miller Value Partners LLC grew its holdings in shares of Conduent by 38.5% during the fourth quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock valued at $10,720,000 after purchasing an additional 1,552,560 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors.

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.