Short Interest in Conduent Incorporated (NASDAQ:CNDT) Grows By 13.8%

by · The Markets Daily

Conduent Incorporated (NASDAQ:CNDT – Get Free Report) was the target of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,960,000 shares, an increase of 13.8% from the November 15th total of 2,600,000 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 2.7 days.

Conduent Stock Up 1.2 %

Shares of NASDAQ:CNDT traded up $0.05 during trading on Monday, reaching $4.26. The stock had a trading volume of 1,840,298 shares, compared to its average volume of 1,104,524. Conduent has a one year low of $2.96 and a one year high of $4.44. The firm’s 50-day simple moving average is $3.92 and its 200 day simple moving average is $3.71. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $681.13 million, a P/E ratio of 1.85 and a beta of 1.46.

Conduent (NASDAQ:CNDT – Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $817.33 million. During the same period last year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, research analysts expect that Conduent will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HTG Investment Advisors Inc. purchased a new stake in shares of Conduent in the 2nd quarter valued at $37,000. Algert Global LLC acquired a new position in Conduent in the 2nd quarter valued at about $52,000. Oppenheimer Asset Management Inc. purchased a new stake in Conduent during the second quarter worth about $80,000. Point72 DIFC Ltd lifted its position in shares of Conduent by 127.9% during the second quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after purchasing an additional 15,254 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Conduent in the third quarter valued at approximately $100,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

About Conduent

(Get Free Report)

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.

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