Zacks Investment Research downgraded shares of Conduent Inc (NASDAQ:CNDT) from a buy rating to a hold rating in a research report report published on Friday, May 12th.
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. “
CNDT has been the subject of a number of other reports. Morgan Stanley began coverage on Conduent in a research note on Thursday, January 12th. They issued an equal weight rating and a $16.00 target price for the company. Citigroup Inc. initiated coverage on Conduent in a research note on Thursday, January 26th. They issued a buy rating and a $17.00 target price for the company. Finally, BMO Capital Markets reissued a hold rating and set a $14.00 price objective on shares of Conduent in a research report on Friday, February 17th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $17.86.
Shares of Conduent (NASDAQ:CNDT) traded up 1.79% during trading on Friday, hitting $15.92. 3,724,520 shares of the stock were exchanged. The firm has a 50 day moving average of $16.63 and a 200-day moving average of $15.70. Conduent has a 52-week low of $13.10 and a 52-week high of $18.15. The stock’s market cap is $3.33 billion.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, May 10th. The company reported $0.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.16. Conduent had a negative return on equity of 1.22% and a negative net margin of 0.64%. The company 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% compared to the same quarter last year. Equities research analysts anticipate that Conduent will post $0.76 earnings per share for the current fiscal year.
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In other news, EVP David Amoriell sold 3,889 shares of Conduent stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $16.66, for a total value of $64,790.74. Following the completion of the transaction, the executive vice president now owns 120,630 shares in the company, valued at approximately $2,009,695.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A hedge fund recently bought a new stake in Conduent stock. Community Financial Services Group LLC bought a new stake in Conduent Inc (NASDAQ:CNDT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,063 shares of the company’s stock, valued at approximately $202,000.
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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