Conduent (NASDAQ:CNDT) Stock Rating Lowered by Wall Street Zen

Conduent (NASDAQ:CNDT) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Conduent Stock Up 1.3%

NASDAQ:CNDT opened at $1.56 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. The stock’s fifty day moving average is $1.62 and its two-hundred day moving average is $1.54. Conduent has a 52 week low of $1.15 and a 52 week high of $2.38. The stock has a market capitalization of $242.61 million, a price-to-earnings ratio of -1.03 and a beta of 1.45.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%. The firm had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $702.00 million. Research analysts anticipate that Conduent will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Conduent

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in Conduent during the 2nd quarter worth $20,194,000. Blue Owl Capital Holdings LP purchased a new stake in Conduent during the 2nd quarter worth about $7,353,000. JB Capital Partners LP purchased a new stake in Conduent during the 2nd quarter worth about $1,625,069. Invst LLC acquired a new stake in Conduent in the 2nd quarter valued at about $1,570,000. Finally, Miller Value Partners LLC acquired a new stake in Conduent in the 2nd quarter valued at about $18,960,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Company Profile

Conduent Incorporated (NASDAQ: CNDT) provides business process services and technology solutions to government agencies and commercial organizations. Its services are designed to help clients manage complex administrative processes, improve customer interactions and modernize operations through digital tools and automation.

The company’s offerings include transportation and mobility services, such as electronic tolling, transit fare collection and traffic-management solutions; government services, including public benefits administration, payment processing and constituent support; and commercial services covering customer experience, claims and benefits administration, human resources and other business processes.

Conduent was established as an independent company following its separation from Xerox in 2017.