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

Key Points

• Conduent has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the company's stock.
• The company's latest quarterly earnings report showed earnings per share of ($0.13), surpassing expectations, but revenue fell 7% year-over-year, amounting to $754 million.
• Insider trading activity included Director Harshavardhan V. Agadi purchasing 100,000 shares at $2.81, highlighting confidence in the company's future performance.

Conduent (NASDAQ:CNDT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Conduent Stock Performance

NASDAQ CNDT opened at $2.80 on Friday. The firm has a market cap of $442.33 million, a price-to-earnings ratio of 70.02 and a beta of 1.66. The company has a 50 day moving average of $2.65 and a 200-day moving average of $2.73. 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 has a 1-year low of $1.90 and a 1-year high of $4.90.

Conduent (NASDAQ:CNDT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $754.00 million during the quarter, compared to analyst estimates of $777.00 million. Conduent had a net margin of 0.64% and a negative return on equity of 9.88%. The company's revenue was down 7.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) earnings per share. On average, equities analysts forecast that Conduent will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Conduent

In related news, Director Harshavardhan V. Agadi purchased 100,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were acquired at an average cost of $2.81 per share, with a total value of $281,000.00. Following the completion of the purchase, the director directly owned 100,000 shares of the company's stock, valued at $281,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Conduent

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in Conduent in the 1st quarter valued at $28,000. Truvestments Capital LLC acquired a new position in shares of Conduent in the 1st quarter valued at approximately $28,000. Boothbay Fund Management LLC acquired a new position in Conduent during the 2nd quarter worth approximately $29,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Conduent during the 1st quarter worth approximately $32,000. Finally, IHT Wealth Management LLC bought a new stake in Conduent during the 2nd quarter worth approximately $34,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

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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