Conduent (NASDAQ:CNDT) Stock Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Conduent shares fell below their 200-day moving average, trading as low as $1.49 versus the average of $1.54.
• Analyst opinions are mixed: one Strong Buy, one Hold and one Sell rating, resulting in a consensus Hold.
• The company’s latest quarter missed estimates, reporting a loss of $0.18 per share versus $0.17 expected and revenue of $531 million versus $702 million expected.

Shares of Conduent Inc. (NASDAQ:CNDT - Get Free Report) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $1.54 and traded as low as $1.49. Conduent shares last traded at $1.49, with a volume of 1,055,741 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research downgraded shares of Conduent from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a "sell (d)" rating on shares of Conduent in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Conduent from a "sell" rating to a "strong sell" rating in a research note on Sunday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Conduent Stock Down 4.5%

The firm's 50 day moving average price is $1.62 and its two-hundred day moving average price is $1.54. The firm has a market capitalization of $231.72 million, a PE ratio of -0.98 and a beta of 1.47. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33.

Conduent (NASDAQ:CNDT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $531.00 million for the quarter, compared to analysts' expectations of $702.00 million. Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%. As a group, research analysts forecast that Conduent Inc. will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Headlands Technologies LLC raised its position in shares of Conduent by 30.9% in the 2nd quarter. Headlands Technologies LLC now owns 54,683 shares of the company's stock valued at $80,000 after purchasing an additional 12,919 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Conduent during the third quarter worth approximately $27,000. Nierenberg Investment Management Company LLC acquired a new stake in shares of Conduent during the second quarter worth approximately $25,630. GSA Capital Partners LLP acquired a new stake in shares of Conduent during the second quarter worth approximately $30,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Conduent in the second quarter worth $30,000. Institutional investors and hedge funds own 77.28% of the company's stock.

About Conduent

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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