Short Interest in Conduent Incorporated (NASDAQ:CNDT) Expands By 25.7%

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) was the target of a large growth in short interest during the month of 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. Approximately 2.6% of the shares of the company are short sold. Based on an average trading volume of 1,130,000 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Inflows and Outflows

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

Conduent Price Performance

Shares of CNDT remained flat at $4.04 during trading hours on Tuesday. 525,450 shares of the stock traded hands, compared to its average volume of 1,121,605. The stock has a 50 day moving average price of $3.97 and a two-hundred day moving average price of $3.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $645.96 million, a price-to-earnings ratio of 1.78 and a beta of 1.46. Conduent has a 52 week low of $2.96 and a 52 week high of $4.59.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The firm had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The business's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period last year, the business posted ($0.09) earnings per share. On average, equities analysts expect that Conduent will post -0.45 EPS for the current fiscal 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.