Noble Financial Begins Coverage on Conduent (NASDAQ:CNDT)

Noble Financial initiated coverage on shares of Conduent (NASDAQ:CNDTFree Report) in a research report sent to investors on Thursday, MarketBeat reports. The firm issued an outperform rating and a $9.00 target price on the stock.

Separately, StockNews.com downgraded shares of Conduent from a buy rating to a hold rating in a research note on Wednesday, March 6th.

Get Our Latest Report on CNDT

Conduent Price Performance

Conduent stock opened at $3.28 on Thursday. Conduent has a 1 year low of $2.40 and a 1 year high of $3.81. The firm has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.31. The company has a market cap of $688.73 million, a price-to-earnings ratio of -2.34 and a beta of 1.59. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.91 and a current ratio of 1.91.

Conduent (NASDAQ:CNDTGet Free Report) last released its earnings results on Wednesday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $953.00 million for the quarter, compared to analysts’ expectations of $930.00 million. During the same period last year, the firm posted $0.01 EPS. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Point72 Middle East FZE acquired a new stake in Conduent in the fourth quarter valued at $25,000. Dynamic Advisor Solutions LLC acquired a new stake in Conduent in the fourth quarter valued at $36,000. Quadrature Capital Ltd acquired a new stake in Conduent in the third quarter valued at $41,000. Captrust Financial Advisors raised its holdings in Conduent by 31.9% in the second quarter. Captrust Financial Advisors now owns 10,067 shares of the company’s stock valued at $43,000 after acquiring an additional 2,437 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Conduent in the first quarter valued at $43,000. 75.81% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Company Profile

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Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.

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