Conduent (NYSE:CNDT) had its price target dropped by equities research analysts at SunTrust Banks to $18.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “buy” rating on the stock. SunTrust Banks’ target price points to a potential upside of 38.04% from the company’s previous close.
Several other research firms also recently issued reports on CNDT. JPMorgan Chase & Co. downgraded shares of Conduent to a “buy” rating and set a $24.00 price objective for the company. in a research note on Wednesday, August 15th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, August 13th. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Conduent in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $21.57.
Conduent stock opened at $13.04 on Thursday. Conduent has a 1 year low of $12.18 and a 1 year high of $23.39. The company has a market capitalization of $2.88 billion, a P/E ratio of 15.34 and a beta of 0.88. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.
Conduent (NYSE:CNDT) last released its earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Conduent had a negative net margin of 1.21% and a positive return on equity of 6.80%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Conduent’s revenue for the quarter was down 11.9% compared to the same quarter last year. On average, research analysts predict that Conduent will post 1.1 earnings per share for the current year.
In other Conduent news, President David Amoriell sold 33,903 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $21.30, for a total transaction of $722,133.90. Following the completion of the sale, the president now directly owns 83,888 shares in the company, valued at $1,786,814.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Point72 Hong Kong Ltd boosted 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 valued at $109,000 after purchasing an additional 3,777 shares during the period. Group One Trading L.P. boosted its stake in shares of Conduent by 673.6% in the third quarter. Group One Trading L.P. now owns 6,046 shares of the company’s stock valued at $136,000 after purchasing an additional 7,100 shares during the period. ClariVest Asset Management LLC purchased a new position in shares of Conduent in the third quarter valued at $157,000. SG Americas Securities LLC purchased a new position in shares of Conduent in the second quarter valued at $142,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Conduent by 416.0% in the second quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock valued at $145,000 after purchasing an additional 6,427 shares during the period. Institutional investors and hedge funds own 91.37% 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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