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Is Conduent (CNDT) Outperforming Other Business Services Stocks This Year?

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Investors focused on the Business Services space have likely heard of Conduent (CNDT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of CNDT and the rest of the Business Services group's stocks.

Conduent is a member of our Business Services group, which includes 244 different companies and currently sits at #14 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, CNDT has returned 43.75% so far this year. Meanwhile, the Business Services sector has returned an average of -17.47% on a year-to-date basis. This means that Conduent is performing better than its sector in terms of year-to-date returns.

Breaking things down more, CNDT is a member of the Outsourcing industry, which includes 13 individual companies and currently sits at #86 in the Zacks Industry Rank. This group has gained an average of 15.82% so far this year, so CNDT is performing better in this area.

CNDT will likely be looking to continue its solid performance, so investors interested in Business Services stocks should continue to pay close attention to the company.


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