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

Conduent Incorporated (NASDAQ:CNDT) saw a significant increase in short interest in the month of 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. Based on an average daily trading volume, of 1,130,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 2.6% of the company’s shares are sold short.

Conduent Stock Performance

Shares of CNDT stock opened at $4.04 on Tuesday. The firm has a market capitalization of $645.96 million, a P/E ratio of 1.78 and a beta of 1.46. 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 company’s fifty day moving average price is $3.97 and its two-hundred day moving average price is $3.76. 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $807.00 million during the quarter, compared to analyst estimates of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business’s revenue for the quarter was down 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, research analysts anticipate that Conduent will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Conduent

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HTG Investment Advisors Inc. bought a new stake in shares of Conduent in the 2nd quarter worth approximately $37,000. Algert Global LLC acquired a new position in Conduent in the second quarter valued at about $52,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Conduent in the 2nd quarter valued at $80,000. Point72 DIFC Ltd raised its holdings in Conduent by 127.9% during the 2nd quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after buying an additional 15,254 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Conduent during the third quarter worth about $100,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

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.