Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

Conduent Incorporated (NASDAQ:CNDT) saw a large 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. Approximately 2.1% of the shares of the stock are short sold. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is presently 2.9 days.

Hedge Funds Weigh In On Conduent

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Diversified Trust Co boosted its position in Conduent by 7.1% during the 4th quarter. Diversified Trust Co now owns 56,369 shares of the company’s stock valued at $228,000 after acquiring an additional 3,743 shares in the last quarter. Rhumbline Advisers grew its stake in Conduent by 1.5% in 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. raised its holdings in Conduent by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company’s stock worth $366,000 after purchasing an additional 3,911 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Conduent by 14.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock valued at $180,000 after buying an additional 5,494 shares during the period. Finally, Picton Mahoney Asset Management boosted its holdings in shares of Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after buying an additional 6,524 shares in the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

CNDT stock traded up $0.01 during mid-day trading on Thursday, hitting $3.35. 320,766 shares of the stock were exchanged, compared to its average volume of 1,061,388. The business has a fifty day moving average price of $3.95 and a 200 day moving average price of $3.91. Conduent has a 12 month low of $2.96 and a 12 month high of $4.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The stock has a market capitalization of $541.32 million, a price-to-earnings ratio of 1.55 and a beta of 1.36.

Conduent (NASDAQ:CNDT) last posted its quarterly 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 negative return on equity of 11.39% and a net margin of 12.69%. On average, sell-side analysts anticipate that Conduent will post -0.34 EPS for the current year.

About Conduent

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.