Conduent Inc (NYSE:CNDT) Receives $9.90 Consensus PT from Brokerages

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Conduent Inc (NYSE:CNDT) has earned a consensus recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.90.

CNDT has been the topic of several recent analyst reports. Citigroup reissued a “neutral” rating and set a $7.50 price objective (down previously from $9.00) on shares of Conduent in a research note on Wednesday, August 28th. Zacks Investment Research downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. ValuEngine raised shares of Conduent from a “sell” rating to a “hold” rating in a research note on Thursday, November 28th. Finally, Needham & Company LLC set a $9.00 price objective on shares of Conduent and gave the company a “buy” rating in a research note on Tuesday, September 24th.

Shares of CNDT traded down $0.10 on Monday, hitting $6.24. 899,135 shares of the stock traded hands, compared to its average volume of 1,272,994. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $1.31 billion, a P/E ratio of 5.94 and a beta of 1.87. The stock’s 50 day moving average is $6.47 and its two-hundred day moving average is $7.43. Conduent has a 1 year low of $5.26 and a 1 year high of $15.48.

Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. Conduent had a negative net margin of 32.11% and a positive return on equity of 6.33%. The company’s quarterly revenue was down 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Research analysts forecast that Conduent will post 0.63 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new position in Conduent during the third quarter worth approximately $155,000. Icahn Carl C raised its stake in Conduent by 20.6% during the third quarter. Icahn Carl C now owns 38,149,336 shares of the company’s stock worth $237,289,000 after purchasing an additional 6,513,622 shares during the period. Metropolitan Life Insurance Co NY raised its stake in Conduent by 953.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 48,602 shares of the company’s stock worth $302,000 after purchasing an additional 43,988 shares during the period. Millennium Management LLC raised its stake in Conduent by 212.7% during the third quarter. Millennium Management LLC now owns 548,399 shares of the company’s stock worth $3,411,000 after purchasing an additional 373,008 shares during the period. Finally, Squarepoint Ops LLC raised its stake in Conduent by 77.8% during the third quarter. Squarepoint Ops LLC now owns 248,470 shares of the company’s stock worth $1,545,000 after purchasing an additional 108,712 shares during the period. 87.58% of the stock is currently owned by institutional investors.

About Conduent

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. 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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