Stock Traders Purchase High Volume of Call Options on Conduent (NASDAQ:CNDT)

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) saw unusually large options trading on Friday. Stock investors purchased 2,217 call options on the company. This represents an increase of approximately 794% compared to the average daily volume of 248 call options.

Institutional Trading of Conduent

A number of hedge funds and other institutional investors have recently made changes to their positions in CNDT. HTG Investment Advisors Inc. purchased a new position in Conduent during the second quarter valued at approximately $37,000. Algert Global LLC acquired a new stake in shares of Conduent during the 2nd quarter worth approximately $52,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Conduent during the 2nd quarter valued at approximately $80,000. Point72 DIFC Ltd lifted its stake in shares of 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 purchasing an additional 15,254 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Conduent during the third quarter worth $100,000. Institutional investors and hedge funds own 77.28% of the company's stock.

Conduent Stock Performance

CNDT traded down $0.11 on Friday, reaching $4.21. 949,849 shares of the stock were exchanged, compared to its average volume of 1,101,469. The company's 50-day moving average price is $3.92 and its 200 day moving average price is $3.71. 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 firm has a market capitalization of $673.14 million, a PE ratio of 1.85 and a beta of 1.46. Conduent has a fifty-two week low of $2.96 and a fifty-two week high of $4.44.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The firm had revenue of $807.00 million for the quarter, compared to analyst estimates of $817.33 million. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Conduent's revenue for the quarter was down 13.4% on a year-over-year basis. As a group, sell-side analysts forecast 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.