Conduent Incorporated (NASDAQ:CNDT) Receives $7.00 Consensus Price Target From Analysts
Shares of Conduent Incorporated (NASDAQ:CNDT – Get Rating) received a consensus recommendation of “Hold” by the six research firms that cover the company, Marketbeat reports. Four investment analysts gave the stock a holding rating. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $7.00.
Several equity research analysts have recently released reports on the company. Cowen lowered his price target on Conduent from $6.00 to $5.00 in a Thursday, February 17 research note. TheStreet downgraded Conduent from a “c-” rating to a “d+” rating in a Wednesday, February 9 research note. Finally, Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a research note on Wednesday.
A number of institutional investors and hedge funds have recently increased or reduced their holdings in CNDT. Counterpoint Mutual Funds LLC bought a new position in Conduent during Q4 worth $26,000. Nisa Investment Advisors LLC increased its stake in Conduent by 188.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 9,950 shares of the company worth $47,000 after purchasing an additional 6,500 shares during the period. Blueshift Asset Management LLC bought a new position in Conduent during Q3 worth $69,000. Highland Capital Management LLC bought a new position in Conduent stock in Q4 worth $71,000. Finally, Goff John C bought a new position in Conduent stock in Q4 worth $75,000. Institutional investors hold 78.00% of the company’s shares.
NASDAQ:CNDT opened at $5.60 on Tuesday. Conduent has a 1-year low of $4.12 and a 1-year high of $8.50. The company has a 50-day simple moving average of $4.83 and a 200-day simple moving average of $5.46. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt ratio of 1.22.
Conduent (NASDAQ:CNDT – Get Rating) last released its quarterly earnings data on Wednesday, February 16. The company reported earnings per share (EPS) of $0.13 for the quarter, matching the consensus estimate of $0.13. The company posted revenue of $1.05 billion in the quarter, against analyst estimates of $1.04 billion. Conduent posted a positive return on equity of 13.45% and a negative net margin of 0.68%. The company’s revenue for the quarter was down 0.7% year over year. During the same period last year, the company achieved EPS of $0.20. Research analysts expect Conduent to post an EPS of 0.36 for the current fiscal year.
About Conduent (Get an assessment)
Conduent Incorporated provides business process services with transaction-intensive processing, analytics, and automation capabilities in the United States, Europe, and internationally. It operates through three segments: commercial industries, government services and transportation. The Business Industries segment offers business process services and customized solutions to customers across various industries; and end-user customer experience management, transaction processing services, healthcare and human resources, and learning services.
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