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Has Conduent (CNDT) Outpaced Other Business Services Stocks This Year?

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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Conduent (CNDT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Conduent is a member of our Business Services group, which includes 243 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CNDT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CNDT's full-year earnings has moved 7.81% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that CNDT has returned about 45.83% since the start of the calendar year. At the same time, Business Services stocks have lost an average of 16.42%. This means that Conduent is outperforming the sector as a whole this year.

To break things down more, CNDT belongs to the Outsourcing industry, a group that includes 14 individual companies and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have gained about 19.59% so far this year, so CNDT is performing better this group in terms of year-to-date returns.

Investors with an interest in Business Services stocks should continue to track CNDT. The stock will be looking to continue its solid performance.


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Zacks Investment Research