Conduent (NASDAQ:CNDT) Stock Rating Upgraded by StockNews.com

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

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

Conduent Stock Up 5.2 %

Shares of Conduent stock traded up $0.19 during trading on Thursday, reaching $3.87. 1,556,743 shares of the company were exchanged, compared to its average volume of 956,959. Conduent has a twelve month low of $2.40 and a twelve month high of $4.08. The business has a 50-day moving average price of $3.28 and a 200-day moving average price of $3.30. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.97.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results 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 net margin of 5.13% and a negative return on equity of 2.48%. The firm had revenue of $953.00 million during the quarter, compared to analyst estimates of $930.00 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts predict that Conduent will post 1.06 earnings per share for the current year.

Hedge Funds Weigh In On Conduent

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

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.