Conduent (NASDAQ:CNDT) Rating Lowered to Hold at StockNews.com

Conduent (NASDAQ:CNDT) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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 objective for the company.

Conduent Stock Down 3.8 %

Shares of CNDT stock traded down $0.14 during trading on Wednesday, reaching $3.54. The company’s stock had a trading volume of 1,364,341 shares, compared to its average volume of 1,021,260. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market capitalization of $724.21 million, a price-to-earnings ratio of -3.93 and a beta of 1.60. The stock’s 50-day moving average price is $3.40 and its 200 day moving average price is $3.37. Conduent has a 1-year low of $2.40 and a 1-year high of $4.08.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.06. The firm had revenue of $921.00 million during the quarter, compared to analysts’ expectations of $896.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.50%. On average, research analysts anticipate that Conduent will post 1.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CNDT. Vanguard Group Inc. lifted its position in shares of Conduent by 0.3% during the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Conduent by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,979,612 shares of the company’s stock worth $14,526,000 after buying an additional 165,969 shares during the last quarter. AMH Equity Ltd lifted its position in shares of Conduent by 7.4% during the 4th quarter. AMH Equity Ltd now owns 1,600,000 shares of the company’s stock worth $5,840,000 after buying an additional 110,000 shares during the last quarter. Allianz Asset Management GmbH lifted its position 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 worth $4,172,000 after buying an additional 147,244 shares during the last quarter. Finally, Redwood Investment Management LLC lifted its position in shares of Conduent by 9.9% during the 1st quarter. Redwood Investment Management LLC now owns 955,116 shares of the company’s stock worth $3,228,000 after buying an additional 85,843 shares during the last quarter. Hedge funds and other 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.