BidaskClub upgraded shares of Conduent Inc (NASDAQ:CNDT) from a strong sell rating to a sell rating in a research report report published on Thursday.
A number of other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Conduent from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research note on Wednesday, August 2nd. Cowen and Company reiterated a hold rating and issued a $18.00 price objective on shares of Conduent in a research note on Friday, July 28th. Needham & Company LLC initiated coverage on shares of Conduent in a research note on Wednesday, September 13th. They issued a hold rating on the stock. Cross Research upgraded shares of Conduent from a hold rating to a buy rating in a research note on Tuesday, November 7th. Finally, BMO Capital Markets reiterated a hold rating and issued a $18.00 price objective on shares of Conduent in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $18.43.
Conduent (NASDAQ CNDT) traded up $0.13 during trading hours on Thursday, reaching $15.94. 431,815 shares of the company’s stock were exchanged, compared to its average volume of 2,510,000. Conduent has a fifty-two week low of $13.10 and a fifty-two week high of $18.15.
Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share.
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In related news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the sale, the executive vice president now owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of institutional investors and hedge funds have recently bought and sold shares of CNDT. Frontier Capital Management Co. LLC lifted its holdings in Conduent by 33.9% during the second quarter. Frontier Capital Management Co. LLC now owns 8,926,287 shares of the company’s stock valued at $142,285,000 after purchasing an additional 2,261,783 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in Conduent by 43.4% during the second quarter. Lord Abbett & CO. LLC now owns 5,974,165 shares of the company’s stock valued at $95,228,000 after purchasing an additional 1,806,896 shares in the last quarter. Samlyn Capital LLC purchased a new position in Conduent during the second quarter valued at $16,442,000. Junto Capital Management LP purchased a new position in Conduent during the second quarter valued at $16,386,000. Finally, Neuberger Berman Group LLC lifted its holdings in Conduent by 133.3% during the second quarter. Neuberger Berman Group LLC now owns 1,748,391 shares of the company’s stock valued at $27,869,000 after purchasing an additional 999,084 shares in the last quarter.
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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