A number of other research firms have also recently weighed in on CNDT. JPMorgan Chase & Co. cut shares of Conduent to a buy rating and set a $24.00 price objective for the company. in a research report on Wednesday, August 15th. Zacks Investment Research cut shares of Conduent from a buy rating to a hold rating in a research report on Wednesday, October 10th. BMO Capital Markets upped their price objective on shares of Conduent from $22.00 to $23.00 and gave the company a market perform rating in a research report on Thursday, August 9th. SunTrust Banks decreased their price objective on shares of Conduent to $18.00 and set a buy rating for the company in a research report on Thursday, November 8th. Finally, Morgan Stanley set a $16.00 price objective on shares of Conduent and gave the company a hold rating in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Conduent currently has a consensus rating of Hold and an average price target of $21.57.
Shares of Conduent stock opened at $12.30 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.59 and a quick ratio of 1.59. Conduent has a twelve month low of $12.16 and a twelve month high of $23.39. The firm has a market cap of $2.74 billion, a P/E ratio of 14.47 and a beta of 0.66.
Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Conduent had a negative net margin of 1.21% and a positive return on equity of 6.88%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. As a group, sell-side analysts expect that Conduent will post 1.07 earnings per share for the current year.
Hedge funds have recently modified their holdings of the company. Sterling Capital Management LLC bought a new position in shares of Conduent during the third quarter worth about $2,970,000. Wallace Capital Management Inc. lifted its position in shares of Conduent by 0.5% during the second quarter. Wallace Capital Management Inc. now owns 1,257,612 shares of the company’s stock worth $22,851,000 after purchasing an additional 6,000 shares during the last quarter. Barings LLC bought a new position in shares of Conduent during the third quarter worth about $623,000. Janus Henderson Group PLC bought a new position in shares of Conduent during the second quarter worth about $1,294,000. Finally, US Bancorp DE lifted its position in shares of Conduent by 67.1% during the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock worth $153,000 after purchasing an additional 3,366 shares during the last quarter. 87.78% of the stock is currently owned by institutional investors and hedge funds.
Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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