Conduent (NASDAQ:CNDT) Upgraded by StockNews.com to “Buy”

Conduent (NASDAQ:CNDT) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Noble Financial started coverage on Conduent in a report on Thursday, March 14th. They issued an “outperform” rating and a $9.00 price target for the company.

Conduent Trading Up 5.2 %

Shares of NASDAQ:CNDT traded up $0.19 during trading hours on Thursday, hitting $3.87. 1,556,743 shares of the company’s stock traded hands, compared to its average volume of 956,959. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.91 and a quick ratio of 1.91. The business has a fifty day moving average price of $3.28 and a 200-day moving average price of $3.30. Conduent has a 1 year low of $2.40 and a 1 year high of $4.08. The firm has a market capitalization of $807.44 million, a P/E ratio of -4.30 and a beta of 1.60.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). Conduent had a negative net margin of 5.13% and a negative return on equity of 2.48%. The business had revenue of $953.00 million during the quarter, compared to the consensus estimate of $930.00 million. During the same period last year, the company earned $0.01 EPS. The business’s revenue was down 3.3% compared to the same quarter last year. Equities analysts expect that Conduent will post 1.06 earnings per share for the current year.

Institutional Trading of Conduent

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Conduent by 252.4% in the 3rd quarter. SG Americas Securities LLC now owns 55,524 shares of the company’s stock valued at $193,000 after purchasing an additional 39,770 shares in the last quarter. Bailard Inc. raised its stake in Conduent by 35.9% in the third quarter. Bailard Inc. now owns 105,045 shares of the company’s stock worth $366,000 after buying an additional 27,745 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Conduent by 91.5% during the third quarter. Panagora Asset Management Inc. now owns 405,984 shares of the company’s stock worth $1,413,000 after buying an additional 193,941 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Conduent by 39.2% during the 3rd quarter. Principal Financial Group Inc. now owns 25,470 shares of the company’s stock worth $89,000 after purchasing an additional 7,174 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Conduent by 155.0% during the third quarter. Assenagon Asset Management S.A. now owns 310,555 shares of the company’s stock valued at $1,081,000 after purchasing an additional 188,753 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors.

About Conduent

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.