Conduent (CNDT) Sets New 1-Year Low at $12.17

Conduent Inc (NYSE:CNDT)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.17 and last traded at $12.32, with a volume of 1157253 shares. The stock had previously closed at $12.99.

A number of equities research analysts have recently weighed in on CNDT shares. Zacks Investment Research lowered Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. Morgan Stanley set a $16.00 target price on Conduent and gave the company a “hold” rating in a research note on Thursday, November 8th. TheStreet lowered Conduent from a “c-” rating to a “d+” rating in a research note on Monday, December 3rd. ValuEngine lowered Conduent from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th. Finally, JPMorgan Chase & Co. raised Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Tuesday, August 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $21.57.

The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 14.07 and a beta of 0.66.

Conduent (NYSE:CNDT) last released its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Conduent had a negative net margin of 1.21% and a positive return on equity of 6.88%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm posted $0.22 EPS. The company’s revenue was down 11.9% on a year-over-year basis. On average, equities analysts anticipate that Conduent Inc will post 1.07 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Conduent by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 17,504,752 shares of the company’s stock valued at $394,207,000 after purchasing an additional 141,958 shares during the last quarter. Nordea Investment Management AB raised its position in Conduent by 21.9% during the 3rd quarter. Nordea Investment Management AB now owns 154,916 shares of the company’s stock valued at $3,490,000 after purchasing an additional 27,866 shares during the last quarter. Trust Asset Management LLC raised its position in Conduent by 2,152.0% during the 3rd quarter. Trust Asset Management LLC now owns 93,638 shares of the company’s stock valued at $123,000 after purchasing an additional 89,480 shares during the last quarter. Pennant Investors LP bought a new position in Conduent during the 3rd quarter valued at approximately $8,783,000. Finally, Glenmede Trust Co. NA raised its position in Conduent by 36.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 290,963 shares of the company’s stock valued at $6,552,000 after purchasing an additional 77,240 shares during the last quarter. 87.78% of the stock is owned by institutional investors and hedge funds.

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About Conduent (NYSE:CNDT)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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