Conduent (NASDAQ:CNDT) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Conduent (NASDAQ:CNDT) from a hold rating to a sell rating in a report published on Sunday.

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Conduent Price Performance

Conduent stock opened at $1.42 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.57 and a current ratio of 1.57. The firm has a market cap of $219.69 million, a P/E ratio of -1.27 and a beta of 1.28. The business’s fifty day moving average is $1.69 and its two-hundred day moving average is $2.15. Conduent has a 52 week low of $1.18 and a 52 week high of $3.40.

Conduent (NASDAQ:CNDT) last announced its earnings results on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. Equities research analysts forecast that Conduent will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Conduent

In other Conduent news, Director Michael Fucci bought 60,000 shares of Conduent stock in a transaction dated Thursday, February 19th. The shares were bought at an average price of $1.44 per share, with a total value of $86,400.00. Following the purchase, the director owned 166,102 shares of the company’s stock, valued at $239,186.88. This trade represents a 56.55% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Harshavardhan V. Agadi purchased 117,099 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were acquired at an average cost of $1.56 per share, with a total value of $182,674.44. Following the completion of the purchase, the chief executive officer owned 337,099 shares of the company’s stock, valued at $525,874.44. The trade was a 53.23% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 337,099 shares of company stock worth $499,974. Company insiders own 2.98% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CNDT. Global Retirement Partners LLC boosted its stake in Conduent by 28,720.0% in the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after purchasing an additional 14,360 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Conduent during the second quarter worth about $29,000. FNY Investment Advisers LLC grew its holdings in shares of Conduent by 89.7% during the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after buying an additional 5,165 shares in the last quarter. M&T Bank Corp acquired a new stake in Conduent in the 4th quarter valued at approximately $33,000. Finally, Modern Wealth Management LLC acquired a new stake in Conduent in the 3rd quarter valued at approximately $34,000. Institutional investors own 77.28% of the company’s stock.

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.