Conduent (NASDAQ:CNDT) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Conduent from “sell” to “strong sell,” while other analysts have issued mixed views; the consensus rating is “Hold.”
• Conduent reported a quarterly loss of $0.18 per share, slightly worse than estimates, and revenue of $531 million versus expectations of $702 million. Analysts expect a full-year loss of $0.37 per share.
• CNDT shares opened at $1.54, with a market capitalization of approximately $239.5 million; institutional investors own 77.28% of the company’s stock.

Conduent (NASDAQ:CNDT - Get Free Report) was downgraded by Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Sunday, Wall Street Zen reports.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Conduent from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "sell (d)" rating on shares of Conduent in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold".

Conduent Stock Performance

Shares of CNDT opened at $1.54 on Friday. The business has a fifty day moving average of $1.62 and a 200 day moving average of $1.55. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55. Conduent has a one year low of $1.15 and a one year high of $2.41. The firm has a market capitalization of $239.50 million, a P/E ratio of -1.01 and a beta of 1.45.

Conduent (NASDAQ:CNDT - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. The firm had revenue of $531.00 million for the quarter, compared to analysts' expectations of $702.00 million. As a group, sell-side analysts anticipate that Conduent will post -0.37 EPS for the current year.

Institutional Trading of Conduent

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNDT. Engineers Gate Manager LP purchased a new position in shares of Conduent in the 2nd quarter valued at $131,000. Headlands Technologies LLC grew its stake in Conduent by 30.9% during the 2nd quarter. Headlands Technologies LLC now owns 54,683 shares of the company's stock valued at $80,000 after purchasing an additional 12,919 shares in the last quarter. Empowered Funds LLC acquired a new stake in Conduent in the second quarter valued at $286,000. Public Employees Retirement System of Ohio bought a new position in shares of Conduent during the second quarter worth about $52,000. Finally, Pingora Partners LLC acquired a new position in shares of Conduent in the 2nd quarter worth approximately $425,000. Hedge funds and other institutional investors own 77.28% of the company's stock.

About Conduent

Conduent Incorporated NASDAQ: CNDT provides business process services and technology solutions to government agencies and commercial organizations. Its services are designed to help clients manage complex administrative processes, improve customer interactions and modernize operations through digital tools and automation.

The company's offerings include transportation and mobility services, such as electronic tolling, transit fare collection and traffic-management solutions; government services, including public benefits administration, payment processing and constituent support; and commercial services covering customer experience, claims and benefits administration, human resources and other business processes.

Conduent was established as an independent company following its separation from Xerox in 2017.

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