Conduent (NASDAQ:CNDT) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded Conduent from hold to strong-buy, adding to a mix of recent analyst calls that leaves the stock with an overall Buy rating.
• Conduent shares were trading around $1.54, near both their 50-day and 200-day moving averages, with a market cap of about $238.85 million and a 52-week range of $1.15 to $2.98.
• The company recently reported better-than-expected earnings of -$0.07 per share, beating estimates, though revenue came in below forecasts and analysts still expect a full-year loss.

Conduent (NASDAQ:CNDT - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a "sell (d)" rating on shares of Conduent in a research note on Monday, April 20th. Noble Financial raised Conduent to a "strong-buy" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Conduent from a "sell" rating to a "hold" rating in a report on Saturday, March 21st. Three investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Conduent currently has an average rating of "Buy".

Conduent Trading Up 0.7%

Shares of NASDAQ CNDT opened at $1.54 on Monday. The firm's 50 day moving average price is $1.53 and its 200-day moving average price is $1.55. Conduent has a 52-week low of $1.15 and a 52-week high of $2.98. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. The company has a market cap of $238.85 million, a PE ratio of -1.51 and a beta of 1.44.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC grew its stake in shares of Conduent by 28,720.0% during the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company's stock valued at $28,000 after purchasing an additional 14,360 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Conduent in the 2nd quarter worth approximately $29,000. FNY Investment Advisers LLC lifted 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 worth $30,000 after purchasing an additional 5,165 shares during the period. M&T Bank Corp purchased a new position in shares of Conduent in the fourth quarter worth approximately $33,000. Finally, IHT Wealth Management LLC purchased a new position in shares of Conduent in the second quarter worth approximately $34,000. Institutional investors own 77.28% of the company's stock.

About Conduent

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.

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