Conduent (NASDAQ:CNDT) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded Conduent from “strong sell” to “sell,” while other analyst views remain mixed and the overall consensus rating is “Hold.”
• Conduent shares were trading at $1.79, up 20.1%, but the company recently reported a quarterly loss of $0.18 per share and revenue of $531 million, both slightly below analyst expectations.
• Institutional investors and hedge funds own approximately 77.28% of Conduent’s outstanding shares, with several firms recently initiating or increasing positions.

Conduent (NASDAQ:CNDT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings restated a "sell (d)" rating on shares of Conduent in a research report on Thursday, October 15th. Zacks Research cut Conduent from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Conduent currently has a consensus rating of "Hold".

Conduent Trading Up 20.1%

Shares of Conduent stock opened at $1.79 on Friday. The firm has a market capitalization of $278.38 million, a price-to-earnings ratio of -1.18 and a beta of 1.45. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. The firm's 50 day simple moving average is $1.62 and its two-hundred day simple moving average is $1.58. Conduent has a 12-month low of $1.15 and a 12-month high of $2.66.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $702.00 million. Analysts predict that Conduent will post -0.37 EPS for the current year.

Institutional Investors Weigh In On Conduent

A number of hedge funds and other institutional investors have recently modified their holdings of CNDT. Engineers Gate Manager LP acquired a new position in Conduent in the second quarter valued at approximately $131,000. Headlands Technologies LLC lifted its stake in Conduent by 30.9% in the second quarter. Headlands Technologies LLC now owns 54,683 shares of the company's stock valued at $80,000 after buying an additional 12,919 shares during the last quarter. Empowered Funds LLC purchased a new stake in Conduent in the second quarter valued at approximately $286,000. Public Employees Retirement System of Ohio acquired a new position in shares of Conduent in the 2nd quarter valued at $52,000. Finally, Pingora Partners LLC purchased a new stake in Conduent in the 2nd quarter valued at $425,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Company Profile

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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