Conduent (CNDT) Hits New 1-Year Low at $12.17

Conduent Inc (NYSE:CNDT) shares reached a new 52-week low on Thursday . The company traded as low as $12.17 and last traded at $12.32, with a volume of 1157253 shares traded. The stock had previously closed at $12.99.

A number of research analysts have weighed in on CNDT shares. SunTrust Banks reduced their target price on Conduent to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. Morgan Stanley set a $16.00 price target on Conduent and gave the stock a “hold” rating in a research note on Thursday, November 8th. Zacks Investment Research downgraded Conduent from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 13th. ValuEngine downgraded Conduent from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a research note on Monday, December 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $21.57.

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 14.07 and a beta of 0.66.

Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Conduent had a positive return on equity of 6.88% and a negative net margin of 1.21%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 EPS. On average, analysts forecast that Conduent Inc will post 1.07 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the stock. FMR LLC grew its stake in shares of Conduent by 7.8% in the 3rd quarter. FMR LLC now owns 23,719,861 shares of the company’s stock worth $534,171,000 after buying an additional 1,711,445 shares during the last quarter. Vanguard Group Inc. boosted its stake in Conduent by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,504,752 shares of the company’s stock valued at $394,207,000 after purchasing an additional 141,958 shares during the last quarter. BlackRock Inc. boosted its stake in Conduent by 1.3% during the 3rd quarter. BlackRock Inc. now owns 8,173,854 shares of the company’s stock valued at $184,074,000 after purchasing an additional 104,690 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in Conduent during the 3rd quarter valued at $152,788,000. Finally, Dimensional Fund Advisors LP boosted its stake in Conduent by 7.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,454,723 shares of the company’s stock valued at $122,840,000 after purchasing an additional 378,187 shares during the last quarter. Institutional investors own 87.78% of the company’s stock.

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About Conduent (NYSE:CNDT)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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