Short Interest in Conduent Incorporated (NASDAQ:CNDT) Grows By 23.6%

Conduent Incorporated (NASDAQ:CNDT) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 2,460,000 shares, an increase of 23.6% from the September 30th total of 1,990,000 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 2.3 days.

Conduent Stock Up 0.8 %

CNDT stock traded up $0.03 during trading on Wednesday, hitting $3.67. 836,138 shares of the stock traded hands, compared to its average volume of 1,090,415. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $596.00 million, a price-to-earnings ratio of 17.33 and a beta of 1.47. Conduent has a 1 year low of $2.40 and a 1 year high of $4.22. The firm’s 50 day moving average is $3.82 and its two-hundred day moving average is $3.60.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The firm had revenue of $811.00 million for the quarter, compared to analysts’ expectations of $803.33 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Conduent will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Diversified Trust Co increased its holdings in Conduent by 9.2% in the 1st quarter. Diversified Trust Co now owns 50,866 shares of the company’s stock worth $172,000 after buying an additional 4,306 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Conduent in the first quarter worth approximately $219,000. BNP Paribas Financial Markets raised its holdings in shares of Conduent by 49.0% during the first quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company’s stock valued at $485,000 after purchasing an additional 47,176 shares during the last quarter. GSA Capital Partners LLP bought a new position in Conduent during the first quarter valued at approximately $724,000. Finally, Empowered Funds LLC boosted its holdings in Conduent by 8.2% in the first quarter. Empowered Funds LLC now owns 702,512 shares of the company’s stock worth $2,374,000 after purchasing an additional 53,179 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

About Conduent

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.