Short Interest in Conduent Incorporated (NASDAQ:CNDT) Drops By 38.4%

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totalling 2,290,000 shares, a decrease of 38.4% from the December 15th total of 3,720,000 shares. Approximately 1.6% of the company's stock are sold short. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is presently 2.0 days.

Institutional Trading of Conduent

Several institutional investors have recently added to or reduced their stakes in CNDT. Bank of New York Mellon Corp boosted its stake in Conduent by 4.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 662,447 shares of the company's stock valued at $2,160,000 after purchasing an additional 28,209 shares during the last quarter. Headlands Technologies LLC boosted its stake in Conduent by 140.0% during the 2nd quarter. Headlands Technologies LLC now owns 34,476 shares of the company's stock valued at $112,000 after purchasing an additional 20,110 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Conduent by 14.2% during the 2nd quarter. American Century Companies Inc. now owns 248,974 shares of the company's stock valued at $812,000 after buying an additional 31,052 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Conduent during the 2nd quarter valued at $80,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Conduent by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company's stock valued at $7,804,000 after buying an additional 520,000 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Stock Up 2.1 %

Shares of NASDAQ:CNDT traded up $0.08 during trading on Tuesday, hitting $3.97. The stock had a trading volume of 701,035 shares, compared to its average volume of 672,154. Conduent has a 12 month low of $2.96 and a 12 month high of $4.59. The company has a market capitalization of $634.76 million, a PE ratio of 1.75 and a beta of 1.44. The firm's fifty day moving average is $4.04 and its 200 day moving average is $3.83. 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 - Get Free Report) last posted 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 the consensus estimate of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm's quarterly revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.09) EPS. Analysts anticipate that Conduent will post -0.45 EPS 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.