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

StockNews.com upgraded shares of Conduent (NASDAQ:CNDT) from a hold rating to a buy rating in a report released on Wednesday.

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

Conduent Stock Up 1.6 %

Shares of NASDAQ CNDT opened at $3.82 on Wednesday. The stock has a market cap of $781.50 million, a PE ratio of -4.24 and a beta of 1.60. The company has a 50-day moving average of $3.30 and a 200 day moving average of $3.31. Conduent has a 12-month low of $2.40 and a 12-month high of $4.08. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Conduent had a negative return on equity of 2.48% and a negative net margin of 5.13%. The company had revenue of $953.00 million for the quarter, compared to analyst estimates of $930.00 million. During the same period last year, the firm posted $0.01 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Conduent will post 1.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNDT. Vanguard Group Inc. boosted its stake in shares of Conduent by 0.3% during the third quarter. Vanguard Group Inc. now owns 17,422,018 shares of the company’s stock worth $60,629,000 after buying an additional 48,742 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Conduent by 4.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,979,612 shares of the company’s stock valued at $14,526,000 after acquiring an additional 165,969 shares during the last quarter. AMH Equity Ltd raised its holdings in Conduent by 7.4% in the fourth quarter. AMH Equity Ltd now owns 1,600,000 shares of the company’s stock valued at $5,840,000 after buying an additional 110,000 shares during the period. Allianz Asset Management GmbH lifted its holdings in shares of Conduent by 14.8% during the 4th quarter. Allianz Asset Management GmbH now owns 1,143,039 shares of the company’s stock valued at $4,172,000 after acquiring an additional 147,244 shares in the last quarter. Finally, Rubric Capital Management LP purchased a new stake in shares of Conduent in the third quarter worth about $2,905,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

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.