Conduent (NYSE:CNDT) Sets New 1-Year Low at $5.24
Conduent Inc (NYSE:CNDT) reached a new 52-week low during trading on Wednesday . The stock traded as low as $5.24 and last traded at $5.27, with a volume of 61224 shares changing hands. The stock had previously closed at $5.46.
CNDT has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Conduent from $7.50 to $7.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. ValuEngine upgraded Conduent from a “sell” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a research report on Thursday, January 9th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Conduent presently has a consensus rating of “Hold” and a consensus target price of $10.00.
The company has a 50-day moving average price of $6.08 and a two-hundred day moving average price of $6.78. The stock has a market capitalization of $1.10 billion, a P/E ratio of 4.75 and a beta of 1.87. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.92.
Hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in shares of Conduent by 1,014.9% in the second quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the company’s stock worth $26,000 after purchasing an additional 2,446 shares during the last quarter. HM Payson & Co. bought a new position in shares of Conduent in the second quarter worth approximately $67,000. US Bancorp DE increased its position in shares of Conduent by 47.2% in the second quarter. US Bancorp DE now owns 13,362 shares of the company’s stock worth $128,000 after purchasing an additional 4,287 shares during the last quarter. World Asset Management Inc increased its position in shares of Conduent by 28.1% in the third quarter. World Asset Management Inc now owns 13,473 shares of the company’s stock worth $84,000 after purchasing an additional 2,952 shares during the last quarter. Finally, MAI Capital Management increased its position in shares of Conduent by 29.5% in the second quarter. MAI Capital Management now owns 13,970 shares of the company’s stock worth $134,000 after purchasing an additional 3,185 shares during the last quarter. Institutional investors own 87.58% of the company’s stock.
Conduent Company Profile (NYSE:CNDT)
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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