Conduent’s (CNDT) Buy Rating Reiterated at SunTrust Banks

SunTrust Banks reaffirmed their buy rating on shares of Conduent (NYSE:CNDT) in a research note issued to investors on Friday. They currently have a $22.00 price objective on the stock. SunTrust Banks also issued estimates for Conduent’s Q1 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.12 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.27 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.23 EPS.

CNDT has been the topic of several other reports. Cross Research raised Conduent from a hold rating to a buy rating in a report on Tuesday, November 7th. Zacks Investment Research raised Conduent from a hold rating to a buy rating and set a $18.00 target price on the stock in a report on Monday, January 1st. Morgan Stanley reissued an equal weight rating and issued a $20.00 target price (up from $17.50) on shares of Conduent in a report on Thursday. BidaskClub raised Conduent from a strong sell rating to a sell rating in a report on Thursday, November 9th. Finally, BMO Capital Markets reduced their target price on Conduent from $18.00 to $17.00 and set a market perform rating on the stock in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $20.67.

Shares of Conduent (NYSE CNDT) traded up $0.45 on Friday, hitting $18.73. The stock had a trading volume of 3,130,000 shares, compared to its average volume of 2,900,000. The firm has a market cap of $3,940.00 and a P/E ratio of -187.30. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.60. Conduent has a fifty-two week low of $14.95 and a fifty-two week high of $18.93.

Conduent (NYSE:CNDT) last announced its earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.26 by $0.05. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Conduent had a return on equity of 5.62% and a net margin of 3.01%. Conduent’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. sell-side analysts anticipate that Conduent will post 1.04 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of CNDT. Ameriprise Financial Inc. lifted its holdings in Conduent by 170.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 173,931 shares of the company’s stock worth $2,772,000 after buying an additional 109,555 shares in the last quarter. Nationwide Fund Advisors acquired a new position in Conduent during the 2nd quarter worth $701,000. State Street Corp lifted its holdings in Conduent by 46.6% during the 2nd quarter. State Street Corp now owns 2,511,213 shares of the company’s stock worth $40,035,000 after buying an additional 798,390 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after buying an additional 527 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Conduent during the 2nd quarter worth $347,000. 97.94% of the stock is currently owned by hedge funds and other institutional investors.

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Conduent Company Profile

Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).

Analyst Recommendations for Conduent (NYSE:CNDT)

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