Short Interest in Conduent Incorporated (NASDAQ:CNDT) Increases By 24.5%

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,900,000 shares, an increase of 24.5% from the August 15th total of 2,330,000 shares. Based on an average daily trading volume, of 1,170,000 shares, the short-interest ratio is currently 2.5 days. Currently, 2.0% of the company's shares are sold short.

Institutional Investors Weigh In On Conduent

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in Conduent during the first quarter worth approximately $724,000. Assenagon Asset Management S.A. boosted its holdings in Conduent by 68.1% in the first quarter. Assenagon Asset Management S.A. now owns 765,800 shares of the company's stock worth $2,588,000 after acquiring an additional 310,299 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Conduent in the first quarter worth approximately $276,000. Jacobs Levy Equity Management Inc. boosted its holdings in Conduent by 198.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company's stock worth $2,582,000 after acquiring an additional 508,012 shares in the last quarter. Finally, Factorial Partners LLC bought a new position in Conduent in the second quarter worth approximately $3,295,000. Institutional investors and hedge funds own 77.28% of the company's stock.

Conduent Trading Up 2.6 %

Shares of CNDT stock traded up $0.10 on Friday, hitting $3.92. The company had a trading volume of 1,278,712 shares, compared to its average volume of 1,103,633. The firm has a market cap of $801.97 million, a P/E ratio of -4.36 and a beta of 1.46. The stock's 50-day moving average is $3.66 and its two-hundred day moving average is $3.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.65 and a current ratio of 1.65. Conduent has a twelve month low of $2.40 and a twelve month high of $4.20.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.14. Conduent had a negative return on equity of 7.81% and a net margin of 0.88%. The company had revenue of $811.00 million during the quarter, compared to analysts' expectations of $803.33 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The business's quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Conduent will post -0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Conduent from a "buy" rating to a "hold" rating in a research note on Tuesday, May 28th.

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.