Conduent Incorporated (NASDAQ:CNDT) Short Interest Up 29.6% in February

Conduent Incorporated (NASDAQ:CNDT - Get Free Report) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,980,000 shares, an increase of 29.6% from the January 31st total of 2,300,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is presently 2.9 days. Currently, 2.1% of the company's stock are short sold.

Conduent Stock Performance

CNDT stock remained flat at $3.29 during mid-day trading on Friday. The company's stock had a trading volume of 1,592,670 shares, compared to its average volume of 1,069,605. The company has a quick ratio of 1.75, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. Conduent has a 12 month low of $2.96 and a 12 month high of $4.90. The business's fifty day moving average price is $3.93 and its two-hundred day moving average price is $3.91. The stock has a market cap of $532.42 million, a PE ratio of 1.52 and a beta of 1.36.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. As a group, sell-side analysts expect that Conduent will post -0.34 earnings per share for the current fiscal year.

Remove Ads

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Picton Mahoney Asset Management increased its holdings in shares of Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company's stock valued at $35,000 after acquiring an additional 6,524 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Conduent during the 4th quarter valued at about $41,000. SilverOak Wealth Management LLC acquired a new position in shares of Conduent during the 4th quarter valued at about $53,000. Bailard Inc. acquired a new position in shares of Conduent during the 4th quarter valued at about $58,000. Finally, Cibc World Markets Corp acquired a new position in shares of Conduent during the 4th quarter valued at about $60,000. Institutional investors and hedge funds own 77.28% of the company's stock.

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.