Conduent Sees Unusually Large Options Volume (NASDAQ:CNDT)

Conduent Incorporated (NASDAQ:CNDT) was the target of some unusual options trading activity on Friday. Stock investors bought 2,217 call options on the stock. This is an increase of approximately 794% compared to the average daily volume of 248 call options.

Conduent Trading Down 2.5 %

NASDAQ CNDT opened at $4.21 on Friday. Conduent has a twelve month low of $2.96 and a twelve month high of $4.44. The business’s fifty day moving average is $3.92 and its 200 day moving average is $3.71. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market cap of $673.14 million, a price-to-earnings ratio of 1.85 and a beta of 1.46.

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

Hedge Funds Weigh In On Conduent

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HTG Investment Advisors Inc. acquired a new stake in shares of Conduent in the second quarter valued at about $37,000. Algert Global LLC acquired a new stake in Conduent during the 2nd quarter valued at approximately $52,000. Oppenheimer Asset Management Inc. bought a new position in Conduent during the 2nd quarter worth approximately $80,000. Paloma Partners Management Co acquired a new position in shares of Conduent in the 3rd quarter worth approximately $100,000. Finally, Point72 DIFC Ltd lifted its position in shares of Conduent by 127.9% in the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after purchasing an additional 15,254 shares during the period. 77.28% of the stock is currently 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.