Conduent (NASDAQ:CNDT) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Conduent (NASDAQ:CNDT) from a sell rating to a hold rating in a research note released on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Conduent Stock Performance

NASDAQ:CNDT opened at $1.20 on Friday. 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 firm has a market cap of $185.65 million, a price-to-earnings ratio of -1.07 and a beta of 1.28. The firm’s fifty day moving average price is $1.51 and its 200 day moving average price is $2.03. Conduent has a 1-year low of $1.15 and a 1-year high of $3.10.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) 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 firm had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $790.50 million. During the same quarter in the previous year, the company posted ($0.15) EPS. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts expect that Conduent will post -0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Harshavardhan V. Agadi purchased 117,099 shares of the stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $1.56 per share, with a total value of $182,674.44. Following the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Hernandez Margarita Palau purchased 50,000 shares of the stock in a transaction dated Wednesday, February 18th. The shares were bought at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the completion of the purchase, the director owned 50,000 shares in the company, valued at approximately $72,500. This trade represents a ∞ 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 purchased 337,099 shares of company stock worth $499,974. Corporate insiders own 2.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its position in shares of Conduent by 28,720.0% during the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after acquiring an additional 14,360 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Conduent during the 2nd quarter worth approximately $29,000. FNY Investment Advisers LLC grew its holdings in shares of Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after acquiring an additional 5,165 shares during the period. M&T Bank Corp purchased a new position in Conduent in the 4th quarter valued at approximately $33,000. Finally, Modern Wealth Management LLC purchased a new position in Conduent in the 3rd quarter valued at approximately $34,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Company Profile

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.