Conduent (NASDAQ:CNDT) Receives "Sell (D)" Rating from Weiss Ratings

Key Points

• Conduent's stock rating has been reiterated as "sell (D)" by Weiss Ratings, despite mixed evaluations from other analysts.
• The company's recent quarterly earnings report showed a loss of ($0.13) EPS, which was better than expectations but represented a revenue decline of 7.0% year-over-year.
• Institutional investors have significantly increased their stakes in Conduent, with one firm growing its position by 66.0% in the first quarter.

Conduent (NASDAQ:CNDT - Get Free Report)'s stock had its "sell (d)" rating restated by stock analysts at Weiss Ratings in a research note issued on Friday,Weiss Ratings reports.

Other equities research analysts also recently issued reports about the stock. Singular Research upgraded shares of Conduent to a "strong-buy" rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Conduent from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Conduent Price Performance

NASDAQ:CNDT traded up $0.01 on Friday, hitting $2.60. The company had a trading volume of 712,663 shares, compared to its average volume of 940,349. The firm has a 50 day moving average of $2.71 and a two-hundred day moving average of $2.53. The stock has a market capitalization of $410.72 million, a price-to-earnings ratio of 65.02 and a beta of 1.35. Conduent has a 52 week low of $1.90 and a 52 week high of $4.90. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. Conduent had a negative return on equity of 9.88% and a net margin of 0.64%.The company had revenue of $754.00 million during the quarter, compared to analysts' expectations of $777.00 million. During the same period in the prior year, the company earned ($0.14) EPS. Conduent's revenue was down 7.0% compared to the same quarter last year. On average, research analysts anticipate that Conduent will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Conduent

Several institutional investors and hedge funds have recently made changes to their positions in CNDT. Charles Schwab Investment Management Inc. grew its stake in Conduent by 12.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,199,536 shares of the company's stock worth $5,939,000 after purchasing an additional 235,179 shares during the period. Graham Capital Management L.P. boosted its holdings in shares of Conduent by 66.0% during the 1st quarter. Graham Capital Management L.P. now owns 232,970 shares of the company's stock worth $629,000 after buying an additional 92,663 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Conduent by 65.8% during the 1st quarter. Hsbc Holdings PLC now owns 259,850 shares of the company's stock worth $704,000 after buying an additional 103,099 shares during the period. American Century Companies Inc. grew its position in shares of Conduent by 32.1% during the 1st quarter. American Century Companies Inc. now owns 3,110,253 shares of the company's stock worth $8,398,000 after buying an additional 755,953 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Conduent in the 1st quarter valued at $1,117,000. Institutional investors own 77.28% of the company's stock.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.

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