Zacks Investment Research Downgrades Conduent Inc (CNDT) to Hold

Zacks Investment Research downgraded shares of Conduent Inc (NASDAQ:CNDT) from a buy rating to a hold rating in a research report sent to investors on Friday.

According to Zacks, “Conduent Incorporated is a business process services company. It engaged in providing business and government services to citizens, patients, customers and employees. The services rendered by the company include healthcare solutions, BPO services, learning services, digital payments, legal and compliance solutions, human resources, finance and accounting, procurement solutions and digital transformation. The company serves aerospace defence and automotive services, banking, communication and media, healthcare, industrial and energy, insurance, retail and consumer products and transportation industries. Conduent Incorporated is based in Basking Ridge, N.J. “

Several other research analysts have also weighed in on the stock. Citigroup Inc set a $17.00 price objective on shares of Conduent and gave the stock a buy rating in a research note on Saturday, February 25th. BMO Capital Markets restated a hold rating and set a $17.00 price objective on shares of Conduent in a research note on Thursday, February 23rd. Finally, Morgan Stanley began coverage on shares of Conduent in a research note on Thursday, January 12th. They set an equal weight rating and a $16.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $16.50.

Shares of Conduent (NASDAQ:CNDT) opened at 16.58 on Friday. The company has a 50 day moving average of $16.51 and a 200 day moving average of $15.56. The company’s market cap is $3.47 billion. Conduent has a 1-year low of $13.10 and a 1-year high of $18.15.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, May 10th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.56 billion. The business’s revenue was down 7.8% on a year-over-year basis. Equities analysts expect that Conduent will post $0.76 earnings per share for the current fiscal year.

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About Conduent

Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).

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