Shares of Conduent Inc. (NYSE:CNDT) have been given a consensus recommendation of “Hold” by the ten research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.50.
Several research firms have issued reports on CNDT. SunTrust Banks reiterated a “buy” rating and issued a $20.00 target price on shares of Conduent in a research note on Friday, November 10th. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research note on Thursday, November 9th. BMO Capital Markets dropped their price target on Conduent from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, November 9th. BidaskClub upgraded Conduent from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. Finally, Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th.
Hedge funds have recently modified their holdings of the company. Howard Hughes Medical Institute acquired a new stake in shares of Conduent during the second quarter worth about $566,000. Teacher Retirement System of Texas lifted its holdings in shares of Conduent by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock worth $220,000 after purchasing an additional 98 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Conduent by 759.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 47,033 shares of the company’s stock worth $750,000 after purchasing an additional 41,558 shares during the period. ARGA Investment Management LP lifted its holdings in shares of Conduent by 28.9% during the second quarter. ARGA Investment Management LP now owns 321,400 shares of the company’s stock worth $5,123,000 after purchasing an additional 72,100 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Conduent by 107.6% during the second quarter. State of Wisconsin Investment Board now owns 209,844 shares of the company’s stock worth $3,345,000 after purchasing an additional 108,740 shares during the period. Institutional investors and hedge funds own 88.68% of the company’s stock.
Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. equities research analysts expect that Conduent will post 0.81 EPS for the current fiscal year.
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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).
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