In a report issued on August 24, Mayank Tandon from Needham maintained a Buy rating on Conduent (CNDT), with a price target of $6.00. The company’s shares closed last Wednesday at $3.59.
According to TipRanks.com, Tandon is a top 100 analyst with an average return of 21.3% and a 68.4% success rate. Tandon covers the Technology sector, focusing on stocks such as SS&C Technologies Holdings, Bottomline Technologies, and Sapiens International.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Conduent with a $6.00 average price target.
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Based on Conduent’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.05 billion and GAAP net loss of $49 million. In comparison, last year the company earned revenue of $1.11 billion and had a GAAP net loss of $1.03 billion.
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Conduent, Inc. engages in the provision of business process services with expertise in transaction-intensive processing, analytics, and automation. It operates through the following segments: Commercial Industries, Government Services and Transportation. The Commercial Industries segment provides business process services and customized solutions to clients in a variety of industries. The Government Services segment provides government-centric business process services and subject matter experts to U.S. federal, state and local and foreign governments. The Transportation segment provides systems and support to transportation departments and agencies globally. The company was founded on April 18, 1906 and is headquartered in Florham Park, NJ.
