Conduent (CNDT) PT Set at $16.00 by Morgan Stanley

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Conduent (NYSE:CNDT) has been assigned a $16.00 target price by stock analysts at Morgan Stanley in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 22.70% from the company’s previous close.

A number of other equities research analysts also recently weighed in on CNDT. JPMorgan Chase & Co. downgraded shares of Conduent to a “buy” rating and set a $24.00 price target on the stock. in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Monday, August 13th. SunTrust Banks decreased their price target on shares of Conduent to $18.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Conduent in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $21.57.

Shares of Conduent stock opened at $13.04 on Thursday. The firm has a market capitalization of $2.88 billion, a PE ratio of 15.34 and a beta of 0.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.03 and a current ratio of 2.03. Conduent has a 1 year low of $12.18 and a 1 year high of $23.39.

Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Conduent had a positive return on equity of 6.80% and a negative net margin of 1.21%. The company’s revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 EPS. On average, sell-side analysts anticipate that Conduent will post 1.1 earnings per share for the current year.

In other Conduent news, President David Amoriell sold 33,903 shares of Conduent stock in a transaction on Monday, August 20th. The shares were sold at an average price of $21.30, for a total transaction of $722,133.90. Following the sale, the president now owns 83,888 shares in the company, valued at $1,786,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Trexquant Investment LP acquired a new stake in shares of Conduent in the 3rd quarter valued at $1,012,000. FMR LLC boosted its stake in shares of Conduent by 7.8% in the 3rd quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after purchasing an additional 1,711,445 shares in the last quarter. Ffcm LLC boosted its stake in shares of Conduent by 377.8% in the 3rd quarter. Ffcm LLC now owns 168,171 shares of the company’s stock valued at $3,785,000 after purchasing an additional 132,971 shares in the last quarter. Blue Sky Asset Management LLC acquired a new stake in shares of Conduent in the 3rd quarter valued at $985,000. Finally, BlackRock Inc. boosted its stake in shares of Conduent by 1.3% in the 3rd quarter. BlackRock Inc. now owns 8,173,854 shares of the company’s stock valued at $184,074,000 after purchasing an additional 104,690 shares in the last quarter. Institutional investors own 91.37% of the company’s stock.

About Conduent

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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Analyst Recommendations for Conduent (NYSE:CNDT)

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