Conduent Incorporated (NASDAQ:CNDT) Short Interest Down 5.3% in October

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 2,330,000 shares, a decrease of 5.3% from the October 15th total of 2,460,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is presently 2.2 days. Approximately 1.6% of the shares of the company are sold short.

Conduent Price Performance

CNDT traded down $0.20 on Monday, hitting $3.72. 596,438 shares of the company were exchanged, compared to its average volume of 1,103,347. 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 business's fifty day moving average is $3.88 and its 200 day moving average is $3.68. Conduent has a fifty-two week low of $2.77 and a fifty-two week high of $4.38. The firm has a market capitalization of $594.79 million, a P/E ratio of 1.73 and a beta of 1.48.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its 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 analyst estimates of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The firm's revenue for the quarter was down 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.09) earnings per share. As a group, sell-side analysts anticipate that Conduent will post -0.45 EPS for the current year.

Institutional Trading of Conduent

Large investors have recently modified their holdings of the business. Guardian Capital LP acquired a new stake in shares of Conduent in the first quarter valued at approximately $34,000. HTG Investment Advisors Inc. acquired a new stake in Conduent during the second quarter worth approximately $37,000. Algert Global LLC purchased a new position in Conduent during the second quarter worth approximately $52,000. Williams & Novak LLC purchased a new position in Conduent during the second quarter worth approximately $65,000. Finally, Lazard Asset Management LLC purchased a new position in Conduent during the first quarter worth approximately $79,000. 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.