Conduent Inc (CNDT) Lifted to “Sell” at BidaskClub

Conduent Inc (NASDAQ:CNDT) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.

CNDT has been the subject of several other reports. Cowen and Company reissued a “hold” rating and issued a $18.00 price objective on shares of Conduent in a research report on Friday, July 28th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Wednesday, August 2nd. Needham & Company LLC began coverage on Conduent in a research report on Wednesday, September 13th. They issued a “hold” rating for the company. Finally, BMO Capital Markets reissued a “hold” rating and issued a $18.00 price objective on shares of Conduent in a research report on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $18.14.

Conduent (NASDAQ:CNDT) opened at 16.18 on Thursday. Conduent has a 1-year low of $13.10 and a 1-year high of $18.15. The firm’s market capitalization is $3.40 billion. The firm has a 50-day moving average price of $15.85 and a 200-day moving average price of $15.85.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts expect that Conduent will post $0.76 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Conduent Inc (CNDT) Lifted to “Sell” at BidaskClub” was published by Markets Daily and is owned by of Markets Daily. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this news story can be accessed at https://www.themarketsdaily.com/2017/10/12/conduent-inc-cndt-lifted-to-sell-at-bidaskclub.html.

In other news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total value of $1,811,565.00. Following the completion of the sale, the executive vice president now directly owns 120,630 shares in the company, valued at approximately $2,051,916.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Conduent by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after buying an additional 527 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Conduent by 213.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after purchasing an additional 6,046 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Conduent during the 2nd quarter valued at about $161,000. Stevens Capital Management LP acquired a new position in Conduent during the 2nd quarter valued at about $161,000. Finally, Advisory Services Network LLC boosted its stake in Conduent by 173.9% during the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock valued at $174,000 after purchasing an additional 6,929 shares during the last quarter.

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).

Analyst Recommendations for Conduent (NASDAQ:CNDT)

Receive News & Ratings for Conduent Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply