Conduent (NASDAQ:CNDT) Cut to Hold at Zacks Research

Conduent (NASDAQ:CNDT) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

CNDT has been the topic of several other research reports. Noble Financial upgraded Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Conduent Stock Down 1.9%

CNDT opened at $1.55 on Tuesday. The firm’s 50-day simple moving average is $1.51 and its 200-day simple moving average is $1.50. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. Conduent has a twelve month low of $1.15 and a twelve month high of $2.98. The firm has a market cap of $241.06 million, a price-to-earnings ratio of -1.02 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Conduent had a negative net margin of 8.17% and a negative return on equity of 8.50%. The business had revenue of $531.00 million for the quarter, compared to analyst estimates of $702.00 million. Equities research analysts anticipate that Conduent will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Conduent in the second quarter worth $20,194,000. Blue Owl Capital Holdings LP bought a new stake in Conduent during the second quarter worth about $7,353,000. Charles Schwab Investment Management Inc. grew its stake in Conduent by 35.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,116,277 shares of the company’s stock worth $13,663,000 after buying an additional 1,854,266 shares in the last quarter. Miller Value Partners LLC grew its stake in Conduent by 38.5% during the fourth quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock worth $10,720,000 after buying an additional 1,552,560 shares in the last quarter. Finally, JB Capital Partners LP bought a new position in Conduent in the 2nd quarter valued at about $1,625,069,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.