Conduent (NASDAQ:CNDT) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Conduent (NASDAQ:CNDT) from a sell rating to a strong sell rating in a research report released on Sunday,Wall Street Zen reports.

Several other brokerages have also issued reports on CNDT. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a report on Thursday, October 15th. Zacks Research downgraded shares of Conduent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

Conduent Price Performance

Shares of NASDAQ CNDT opened at $1.54 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. The company has a market cap of $239.50 million, a price-to-earnings ratio of -1.01 and a beta of 1.47. Conduent has a 12 month low of $1.15 and a 12 month high of $2.41. The stock has a 50-day moving average price of $1.62 and a two-hundred day moving average price of $1.55.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data 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). The firm had revenue of $531.00 million for the quarter, compared to the consensus estimate of $702.00 million. Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. As a group, analysts forecast that Conduent will post -0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Conduent

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Conduent in the second quarter valued at $20,194,000. Miller Value Partners LLC acquired a new stake in shares of Conduent in the second quarter valued at about $18,960,000. Blue Owl Capital Holdings LP bought a new position in Conduent in the second quarter valued at about $7,353,000. JB Capital Partners LP acquired a new position in shares of Conduent during the second quarter valued at about $1,625,069. Finally, Invst LLC bought a new stake in Conduent during the second quarter valued at approximately $1,570,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated (NASDAQ: CNDT) provides business process services and technology solutions to government agencies and commercial organizations. Its services are designed to help clients manage complex administrative processes, improve customer interactions and modernize operations through digital tools and automation.

The company’s offerings include transportation and mobility services, such as electronic tolling, transit fare collection and traffic-management solutions; government services, including public benefits administration, payment processing and constituent support; and commercial services covering customer experience, claims and benefits administration, human resources and other business processes.

Conduent was established as an independent company following its separation from Xerox in 2017.