Conduent (NASDAQ:CNDT) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Conduent (NASDAQ:CNDT) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Other research analysts have also issued reports about the company. Noble Financial upgraded Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Conduent Stock Up 0.7%

CNDT stock opened at $1.54 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.59 and a quick ratio of 1.59. Conduent has a 52-week low of $1.15 and a 52-week high of $2.98. The company has a 50-day moving average of $1.53 and a two-hundred day moving average of $1.55. The stock has a market capitalization of $238.85 million, a price-to-earnings ratio of -1.51 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.12. Conduent had a negative return on equity of 7.08% and a negative net margin of 5.04%.The company had revenue of $723.00 million for the quarter, compared to the consensus estimate of $746.67 million. As a group, equities research analysts anticipate that Conduent will post -0.29 EPS for the current year.

Institutional Trading of Conduent

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC boosted its stake in Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after buying an additional 14,360 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Conduent in the 2nd quarter valued at $29,000. FNY Investment Advisers LLC raised its stake in shares of Conduent by 89.7% in the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after buying an additional 5,165 shares in the last quarter. M&T Bank Corp bought a new position in shares of Conduent during the 4th quarter worth about $33,000. Finally, IHT Wealth Management LLC bought a new position in shares of Conduent during the 2nd quarter worth about $34,000. 77.28% of the stock is currently owned by institutional investors.

Conduent Company Profile

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.