Conduent (NASDAQ:CNDT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Conduent (NASDAQ:CNDT) from a sell rating to a hold rating in a report released on Saturday.

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

Conduent Stock Performance

Shares of CNDT opened at $1.28 on Friday. The company’s fifty day moving average is $1.50 and its 200-day moving average is $2.01. Conduent has a 12 month low of $1.15 and a 12 month high of $3.10. The firm has a market cap of $198.03 million, a price-to-earnings ratio of -1.14 and a beta of 1.28. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.97.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $770.00 million for 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 revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.15) EPS. Equities analysts expect that Conduent will post -0.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Fucci acquired 60,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $86,400.00. Following the completion of the transaction, the director directly owned 166,102 shares in the company, valued at $239,186.88. This trade represents a 56.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Harshavardhan V. Agadi purchased 117,099 shares of the stock in a transaction dated Friday, February 20th. The shares were acquired at an average price of $1.56 per share, with a total value of $182,674.44. Following the transaction, the chief executive officer owned 337,099 shares in the company, valued at $525,874.44. This trade represents a 53.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 337,099 shares of company stock worth $499,974. 2.98% of the stock is owned by corporate insiders.

Institutional Trading of Conduent

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC raised its position 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 purchasing an additional 5,165 shares during the period. Boothbay Fund Management LLC acquired a new position in shares of Conduent in the 2nd quarter valued at approximately $29,000. Modern Wealth Management LLC acquired a new position in shares of Conduent in the 3rd quarter valued at approximately $34,000. IHT Wealth Management LLC bought a new stake in Conduent during the 2nd quarter worth approximately $34,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in Conduent during the 3rd quarter worth approximately $39,000. 77.28% of the stock is owned by 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.