Conduent Incorporated (NASDAQ:CNDT) Sees Large Growth in Short Interest

Conduent Incorporated (NASDAQ:CNDT) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 3,720,000 shares, an increase of 25.7% from the November 30th total of 2,960,000 shares. Approximately 2.6% of the shares of the company are sold short. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is currently 3.3 days.

Hedge Funds Weigh In On Conduent

Institutional investors and hedge funds have recently modified their holdings of the business. HTG Investment Advisors Inc. acquired a new position in shares of Conduent during the 2nd quarter worth approximately $37,000. Algert Global LLC bought a new stake in shares of Conduent in the second quarter valued at approximately $52,000. Oppenheimer Asset Management Inc. acquired a new stake in Conduent during the second quarter worth approximately $80,000. Point72 DIFC Ltd increased its stake in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after acquiring an additional 15,254 shares during the period. Finally, Paloma Partners Management Co acquired a new position in Conduent in the 3rd quarter valued at $100,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Trading Down 1.0 %

Shares of CNDT stock opened at $4.04 on Tuesday. Conduent has a 12-month low of $2.96 and a 12-month high of $4.59. The firm has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $3.76. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $645.96 million, a PE ratio of 1.78 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. The business had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm’s quarterly revenue was down 13.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. As a group, analysts predict that Conduent will post -0.45 earnings per share for the current year.

Conduent Company Profile

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.