Conduent (NASDAQ:CNDT) Stock Rating Upgraded by Noble Financial

Conduent (NASDAQ:CNDT) was upgraded by Noble Financial to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also recently commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a report on Monday, April 20th. Wall Street Zen raised Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Conduent Trading Down 12.4%

Shares of NASDAQ:CNDT opened at $1.49 on Tuesday. The stock has a 50 day moving average of $1.46 and a 200 day moving average of $1.73. The company has a market cap of $231.10 million, a PE ratio of -1.46 and a beta of 1.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.97. Conduent has a 12-month low of $1.15 and a 12-month high of $2.98.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.12. The company had revenue of $723.00 million during the quarter, compared to the consensus estimate of $746.67 million. Conduent had a negative return on equity of 6.87% and a negative net margin of 5.04%. As a group, equities research analysts expect that Conduent will post -0.46 EPS for the current year.

Insider Activity at Conduent

In other news, CEO Harshavardhan V. Agadi bought 117,099 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $1.56 per share, with a total value of $182,674.44. Following the transaction, the chief executive officer directly owned 337,099 shares in the company, valued at approximately $525,874.44. This trade represents a 53.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hernandez Margarita Palau bought 50,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were purchased at an average cost of $1.45 per share, with a total value of $72,500.00. Following the completion of the transaction, the director owned 50,000 shares in the company, valued at $72,500. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 337,099 shares of company stock worth $499,974 in the last quarter. 1.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Conduent

Hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC lifted its stake in shares of Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after purchasing an additional 5,165 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in Conduent in the second quarter valued at about $29,000. Modern Wealth Management LLC acquired a new position in shares of Conduent in the third quarter valued at about $34,000. IHT Wealth Management LLC acquired a new position in shares of Conduent in the second quarter valued at about $34,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Conduent in the third quarter valued at about $39,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.