Conduent Inc (NASDAQ:CNDT) has been assigned an average rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $18.00.
Several analysts recently commented on CNDT shares. BMO Capital Markets restated a “hold” rating and issued a $18.00 target price on shares of Conduent in a research report on Thursday, September 28th. BidaskClub cut Conduent from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 21st. Needham & Company LLC started coverage on Conduent in a research report on Wednesday, September 13th. They issued a “hold” rating on the stock. Zacks Investment Research cut Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Cowen and Company restated a “hold” rating on shares of Conduent in a research report on Friday, October 6th.
Shares of Conduent (NASDAQ CNDT) traded up 0.52% on Wednesday, reaching $15.41. The company had a trading volume of 3,996,738 shares. The company’s market capitalization is $3.24 billion. Conduent has a 12 month low of $13.10 and a 12 month high of $18.15. The stock has a 50 day moving average price of $15.79 and a 200-day moving average price of $16.28.
Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, August 9th. The company reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue was down 7.3% compared to the same quarter last year. Analysts forecast that Conduent will post $0.76 EPS for the current fiscal year.
In other news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the transaction, the executive vice president now directly owns 120,630 shares in the company, valued at approximately $2,051,916.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Several hedge funds have recently modified their holdings of CNDT. Cohen Capital Management Inc. acquired a new position in shares of Conduent during the 2nd quarter valued at $1,881,000. Nisa Investment Advisors LLC increased its position in shares of Conduent by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after purchasing an additional 2,000 shares during the period. Alpha Windward LLC increased its position in shares of Conduent by 1.5% during the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after purchasing an additional 524 shares during the period. Kirr Marbach & Co. LLC IN acquired a new position in shares of Conduent during the 2nd quarter valued at $8,922,000. Finally, First Quadrant L P CA increased its position in shares of Conduent by 79.3% during the 2nd quarter. First Quadrant L P CA now owns 133,907 shares of the company’s stock valued at $2,134,000 after purchasing an additional 59,210 shares during the period.
Conduent Company Profile
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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