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

Shares of Conduent Inc. (NASDAQ:CNDT) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-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.

Analyst Upgrades and Downgrades

CNDT has been the subject of several research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Thursday, October 15th. Wall Street Zen cut shares of Conduent from a “sell” rating to a “strong sell” rating in a research report on Sunday. Finally, Zacks Research downgraded Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Conduent Trading Down 4.5%

The firm’s fifty day moving average price is $1.62 and its 200-day moving average price is $1.54. The company has a market cap of $231.72 million, a price-to-earnings ratio of -0.98 and a beta of 1.47. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). The firm had revenue of $531.00 million during the quarter, compared to analyst estimates of $702.00 million. Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%. On average, equities analysts expect that Conduent Inc. will post -0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNDT. BlackRock Inc. acquired a new stake in shares of Conduent in the second quarter valued at approximately $20,194,000. Blue Owl Capital Holdings LP bought a new stake in shares of Conduent during the second quarter valued at approximately $7,353,000. JB Capital Partners LP bought a new stake in shares of Conduent during the second quarter valued at approximately $1,625,069. Invst LLC acquired a new position in shares of Conduent during the second quarter worth approximately $1,570,000. Finally, Miller Value Partners LLC acquired a new position in shares of Conduent during the second quarter worth approximately $18,960,000. Institutional investors own 77.28% of the company’s stock.

Conduent Company Profile

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.