Conduent Inc (NYSE:CNDT) – Research analysts at SunTrust Banks lifted their Q2 2019 earnings estimates for shares of Conduent in a research note issued to investors on Wednesday, September 26th. SunTrust Banks analyst F. Atkins now expects that the company will post earnings per share of $0.31 for the quarter, up from their prior forecast of $0.30. SunTrust Banks also issued estimates for Conduent’s Q3 2019 earnings at $0.35 EPS, FY2019 earnings at $1.31 EPS and FY2020 earnings at $1.60 EPS.
Other analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Conduent from a “sell” rating to a “hold” rating in a research note on Thursday, June 14th. BMO Capital Markets increased their price objective on shares of Conduent from $21.00 to $22.00 and gave the stock a “market perform” rating in a research note on Monday, June 11th. Morgan Stanley increased their price objective on shares of Conduent from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 12th. Finally, JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Conduent has a consensus rating of “Buy” and an average target price of $23.00.
CNDT opened at $22.61 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.03 and a current ratio of 2.03. Conduent has a 1-year low of $14.95 and a 1-year high of $23.39. The company has a market capitalization of $4.70 billion, a price-to-earnings ratio of 21.42 and a beta of -0.09.
Conduent (NYSE:CNDT) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was down 7.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in CNDT. Point72 Hong Kong Ltd increased its stake in shares of Conduent by 170.1% in the second quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock worth $109,000 after purchasing an additional 3,777 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in shares of Conduent in the first quarter worth $121,000. SG Americas Securities LLC purchased a new stake in shares of Conduent in the second quarter worth $142,000. BNP Paribas Arbitrage SA grew its stake in Conduent by 416.0% during the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after acquiring an additional 6,427 shares in the last quarter. Finally, US Bancorp DE grew its stake in Conduent by 67.1% during the second quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after acquiring an additional 3,366 shares in the last quarter. 93.62% of the stock is owned by hedge funds and other institutional investors.
In other news, President David Amoriell sold 33,903 shares of the stock in a transaction on Monday, August 20th. The shares were sold at an average price of $21.30, for a total value of $722,133.90. Following the completion of the sale, the president now directly owns 83,888 shares of the company’s stock, valued at $1,786,814.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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