Conduent (CNDT) PT Set at $16.00 by Morgan Stanley

Conduent (NYSE:CNDT) has been given a $16.00 price target by analysts at Morgan Stanley in a report released on Thursday. The brokerage presently has a “hold” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 22.70% from the stock’s current price.

A number of other research analysts have also recently issued reports on CNDT. BMO Capital Markets lifted their price target on Conduent from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Zacks Investment Research cut Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, October 10th. JPMorgan Chase & Co. raised Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Tuesday, August 14th. Finally, SunTrust Banks dropped their price objective on Conduent to $18.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.57.

Conduent stock opened at $13.04 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 2.03. Conduent has a 12-month low of $12.18 and a 12-month high of $23.39. The stock has a market capitalization of $2.88 billion, a P/E ratio of 15.34 and a beta of 0.88.

Conduent (NYSE:CNDT) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Conduent will post 1.1 EPS for the current fiscal year.

In other Conduent news, President David Amoriell sold 33,903 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was 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 of the company’s stock, valued at approximately $1,786,814.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd grew its position in shares of Conduent by 170.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock worth $109,000 after buying an additional 3,777 shares during the period. Group One Trading L.P. grew its position in shares of Conduent by 673.6% during the 3rd quarter. Group One Trading L.P. now owns 6,046 shares of the company’s stock worth $136,000 after buying an additional 7,100 shares during the period. SG Americas Securities LLC acquired a new position in shares of Conduent during the 2nd quarter worth about $142,000. BNP Paribas Arbitrage SA grew its position in shares of Conduent by 416.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock worth $145,000 after buying an additional 6,427 shares during the period. Finally, US Bancorp DE grew its position in shares of Conduent by 67.1% during the 2nd quarter. US Bancorp DE now owns 8,381 shares of the company’s stock worth $153,000 after buying an additional 3,366 shares during the period. 91.37% of the stock is owned by hedge funds and other institutional investors.

Conduent Company Profile

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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Analyst Recommendations for Conduent (NYSE:CNDT)

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