Conduent Incorporated (NASDAQ:CNDT) Short Interest Up 25.7% in December

Conduent Incorporated (NASDAQ:CNDT) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 3,720,000 shares, a growth of 25.7% from the November 30th total of 2,960,000 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is currently 3.3 days.

Conduent Stock Down 1.0 %

CNDT stock opened at $4.04 on Tuesday. 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 twelve month low of $2.96 and a twelve month high of $4.59. The business has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $3.76. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CNDT. JPMorgan Chase & Co. grew its holdings in Conduent by 174.4% during the third quarter. JPMorgan Chase & Co. now owns 513,129 shares of the company’s stock worth $2,068,000 after purchasing an additional 326,118 shares during the period. Franklin Resources Inc. boosted its stake in shares of Conduent by 10.0% during the 3rd 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 holdings in shares of Conduent by 233.0% during the 3rd 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 stake in Conduent by 7.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after acquiring an additional 11,464 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Conduent by 59.7% during 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 currently owned by institutional investors and hedge funds.

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.