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

Conduent Incorporated (NASDAQ:CNDT) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 3,720,000 shares, an increase of 25.7% from the November 30th total of 2,960,000 shares. Approximately 2.6% of the shares of the stock are short sold. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 3.3 days.

Hedge Funds Weigh In On Conduent

A number of institutional investors have recently bought and sold shares of CNDT. JPMorgan Chase & Co. increased its holdings in shares of Conduent by 174.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 513,129 shares of the company’s stock worth $2,068,000 after buying an additional 326,118 shares during the last quarter. Franklin Resources Inc. grew its position in Conduent by 10.0% in the third quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock worth $477,000 after acquiring an additional 10,787 shares during the period. Barclays PLC increased its stake in Conduent by 233.0% during the third quarter. Barclays PLC now owns 271,923 shares of the company’s stock worth $1,096,000 after acquiring an additional 190,269 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Conduent by 7.8% in the third quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after purchasing an additional 11,464 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Conduent by 59.7% in the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock valued at $3,360,000 after purchasing an additional 311,579 shares during the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Stock Down 1.0 %

CNDT stock opened at $4.04 on Tuesday. 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 firm has a 50-day moving average of $3.97 and a two-hundred day moving average of $3.77. The company has a market cap of $645.96 million, a price-to-earnings ratio of 1.78 and a beta of 1.46. Conduent has a 12 month low of $2.96 and a 12 month high of $4.59.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The company had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. As a group, analysts forecast that Conduent will post -0.45 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.