Conduent (NASDAQ:CNDT) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Conduent (NASDAQ:CNDT) from a hold rating to a sell rating in a research report report published on Saturday.

Other analysts have also recently issued research reports about the company. Singular Research raised Conduent to a “strong-buy” rating in a research report on Tuesday, August 19th. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Conduent Trading Down 2.9%

NASDAQ:CNDT opened at $1.99 on Friday. The firm has a 50-day simple moving average of $2.53 and a 200-day simple moving average of $2.55. Conduent has a one year low of $1.72 and a one year high of $4.90. The firm has a market cap of $304.25 million, a P/E ratio of -2.03 and a beta of 1.39. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.64 and a current ratio of 1.64.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.02). The business had revenue of $767.00 million for the quarter, compared to the consensus estimate of $792.00 million. Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. Conduent’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) earnings per share. Conduent has set its FY 2025 guidance at EPS. Equities analysts anticipate that Conduent will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNDT. Sender Co & Partners Inc. grew its stake in shares of Conduent by 85.2% during the third quarter. Sender Co & Partners Inc. now owns 69,080 shares of the company’s stock worth $193,000 after acquiring an additional 31,780 shares during the last quarter. Voleon Capital Management LP purchased a new position in shares of Conduent in the 3rd quarter valued at approximately $423,000. Public Employees Retirement System of Ohio boosted its stake in Conduent by 7.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 168,033 shares of the company’s stock worth $470,000 after purchasing an additional 11,974 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in Conduent in the 3rd quarter worth approximately $42,000. Finally, Moore Capital Management LP purchased a new stake in Conduent during the 3rd quarter worth approximately $345,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Company Profile

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.