Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

Conduent Incorporated (NASDAQ:CNDT) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,980,000 shares, a growth of 29.6% from the January 31st total of 2,300,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 2.9 days. Currently, 2.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Conduent

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its position in Conduent by 526.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company’s stock valued at $12,997,000 after buying an additional 2,703,849 shares during the period. Blue Owl Capital Holdings LP grew its position in shares of Conduent by 67.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 5,625,459 shares of the company’s stock valued at $22,727,000 after acquiring an additional 2,262,437 shares during the period. American Century Companies Inc. increased its stake in shares of Conduent by 156.8% in the 4th quarter. American Century Companies Inc. now owns 2,354,300 shares of the company’s stock worth $9,511,000 after purchasing an additional 1,437,479 shares in the last quarter. Prudential Financial Inc. raised its holdings in Conduent by 1,011.1% in the 4th quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company’s stock worth $6,086,000 after purchasing an additional 1,370,961 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Conduent by 100.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,317,936 shares of the company’s stock worth $9,364,000 after purchasing an additional 1,162,068 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

CNDT stock traded up $0.06 on Wednesday, hitting $3.38. The company had a trading volume of 508,538 shares, compared to its average volume of 1,065,105. The company has a current ratio of 1.68, a quick ratio of 1.75 and a debt-to-equity ratio of 0.73. Conduent has a 12-month low of $2.96 and a 12-month high of $4.90. The stock has a market cap of $546.18 million, a price-to-earnings ratio of 1.56 and a beta of 1.41. The stock’s 50-day simple moving average is $3.97 and its 200 day simple moving average is $3.92.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results 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 negative return on equity of 11.39% and a net margin of 12.69%. As a group, equities research analysts expect that Conduent will post -0.34 earnings per share for the current fiscal 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.