Conduent (NASDAQ:CNDT) Raised to Strong-Buy at Zacks Research

Conduent (NASDAQ:CNDT) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

CNDT has been the topic of a number of other reports. Noble Financial raised Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a report on Monday, April 20th. Three analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Conduent Stock Up 0.7%

NASDAQ CNDT opened at $1.54 on Monday. Conduent has a twelve month low of $1.15 and a twelve month high of $2.98. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market cap of $238.85 million, a PE ratio of -1.51 and a beta of 1.44. The firm has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $1.55.

Conduent (NASDAQ:CNDT) last issued its earnings results on Monday, May 11th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.12. Conduent had a negative return on equity of 7.08% and a negative net margin of 5.04%.The firm had revenue of $723.00 million during the quarter, compared to analysts’ expectations of $746.67 million. On average, research analysts forecast that Conduent will post -0.29 EPS for the current year.

Institutional Trading of Conduent

Several large investors have recently made changes to their positions in CNDT. Global Retirement Partners LLC raised its holdings in shares of Conduent by 28,720.0% in the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after buying an additional 14,360 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Conduent during the second quarter worth approximately $29,000. FNY Investment Advisers LLC grew its stake in shares of Conduent by 89.7% during the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after purchasing an additional 5,165 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Conduent in the fourth quarter valued at approximately $33,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of Conduent in the second quarter valued at approximately $34,000. Institutional investors own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.