Conduent (NASDAQ:CNDT) Trading 13% Higher

Conduent Incorporated (NASDAQ:CNDT - Get Free Report)'s share price traded up 13% during mid-day trading on Wednesday . The stock traded as high as $3.67 and last traded at $3.56. Approximately 333,495 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 981,005 shares. The stock had previously closed at $3.15.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CNDT shares. Noble Financial began coverage on shares of Conduent in a research report on Thursday, March 14th. They set an "outperform" rating and a $9.00 price target for the company. StockNews.com lowered Conduent from a "buy" rating to a "hold" rating in a report on Wednesday, March 6th.

Conduent Stock Up 10.8 %

The company's 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.29. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97. The firm has a market cap of $728.15 million, a P/E ratio of -2.49 and a beta of 1.59.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.01). The company had revenue of $953.00 million for the quarter, compared to the consensus estimate of $930.00 million. The firm's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. Research analysts forecast that Conduent Incorporated will post 1.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Dynamic Advisor Solutions LLC purchased a new stake in shares of Conduent during the 4th quarter valued at about $36,000. NewEdge Wealth LLC bought a new stake in Conduent during the fourth quarter valued at approximately $48,000. Vestmark Advisory Solutions Inc. purchased a new stake in Conduent during the fourth quarter valued at approximately $48,000. Qtron Investments LLC bought a new position in Conduent in the third quarter worth approximately $51,000. Finally, Sherbrooke Park Advisers LLC bought a new position in Conduent in the third quarter worth approximately $54,000. 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.