Conduent Incorporated (NASDAQ:CNDT) Sees Significant Increase in Short Interest

Conduent Incorporated (NASDAQ:CNDT) saw 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. Approximately 1.6% of the shares of the stock are sold short.

Conduent Price Performance

Conduent stock traded down $0.07 during trading hours on Tuesday, hitting $4.14. The stock had a trading volume of 160,147 shares, compared to its average volume of 827,324. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $661.15 million, a price-to-earnings ratio of 1.82 and a beta of 1.41. Conduent has a 1-year low of $2.96 and a 1-year high of $4.90. The stock’s fifty day moving average is $4.10 and its two-hundred day moving average is $3.89.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. As a group, analysts predict that Conduent will post -0.45 earnings per share for the current fiscal year.

Institutional Trading of Conduent

Several institutional investors and hedge funds have recently made changes to their positions in CNDT. Creative Planning lifted its position in shares of Conduent by 74.2% in the third quarter. Creative Planning now owns 60,843 shares of the company’s stock valued at $245,000 after acquiring an additional 25,912 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Conduent by 9.1% in the third quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock valued at $2,758,000 after acquiring an additional 57,183 shares in the last quarter. US Bancorp DE lifted its position in shares of Conduent by 1,484.1% in the third quarter. US Bancorp DE now owns 30,352 shares of the company’s stock valued at $122,000 after acquiring an additional 28,436 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Conduent by 5.4% in the third quarter. Empowered Funds LLC now owns 797,654 shares of the company’s stock valued at $3,215,000 after acquiring an additional 40,602 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Conduent in the third quarter valued at $146,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.