Short Interest in Conduent Incorporated (NASDAQ:CNDT) Grows By 8.5%

Conduent Incorporated (NASDAQ:CNDT) was the recipient of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, a growth of 8.5% from the January 15th total of 2,120,000 shares. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 2.1 days. Currently, 1.6% of the company’s stock are sold short.

Conduent Stock Performance

CNDT opened at $4.12 on Tuesday. Conduent has a 12-month low of $2.96 and a 12-month high of $4.90. The stock has a market cap of $658.75 million, a price-to-earnings ratio of 1.81 and a beta of 1.41. The business has a 50 day moving average of $4.10 and a 200-day moving average of $3.89. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. On average, equities research analysts expect that Conduent will post -0.45 earnings per share for the current year.

Institutional Trading of Conduent

Hedge funds have recently made changes to their positions in the business. Diversified Trust Co increased its stake in shares of Conduent by 7.1% during the fourth quarter. Diversified Trust Co now owns 56,369 shares of the company’s stock worth $228,000 after purchasing an additional 3,743 shares during the period. Rhumbline Advisers increased its stake in shares of Conduent by 1.5% during the fourth quarter. Rhumbline Advisers now owns 255,334 shares of the company’s stock worth $1,032,000 after purchasing an additional 3,775 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Conduent by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company’s stock worth $366,000 after acquiring an additional 3,911 shares during the period. Envestnet Asset Management Inc. increased its stake in Conduent by 14.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock worth $180,000 after acquiring an additional 5,494 shares during the period. Finally, Picton Mahoney Asset Management increased its stake in Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock worth $35,000 after acquiring an additional 6,524 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

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.