Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

Conduent Incorporated (NASDAQ:CNDT) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,290,000 shares, a decline of 38.4% from the December 15th total of 3,720,000 shares. Based on an average trading volume of 1,120,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.6% of the shares of the stock are short sold.

Institutional Trading of Conduent

A number of institutional investors have recently added to or reduced their stakes in CNDT. Renaissance Technologies LLC raised its holdings in shares of Conduent by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after purchasing an additional 520,000 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Conduent by 163.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after buying an additional 942,459 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Conduent by 59.7% during the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock worth $3,360,000 after acquiring an additional 311,579 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Conduent by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 797,654 shares of the company’s stock valued at $3,215,000 after acquiring an additional 40,602 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Conduent by 9.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock valued at $2,758,000 after acquiring an additional 57,183 shares in the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Stock Up 1.8 %

Shares of NASDAQ CNDT traded up $0.07 during mid-day trading on Tuesday, reaching $3.96. The company had a trading volume of 401,619 shares, compared to its average volume of 630,149. The stock has a fifty day moving average of $4.04 and a two-hundred day moving average of $3.83. Conduent has a 12-month low of $2.96 and a 12-month high of $4.59. The company has a market capitalization of $633.16 million, a price-to-earnings ratio of 1.74 and a beta of 1.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75.

Conduent (NASDAQ:CNDT) 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 negative return on equity of 7.94% and a net margin of 12.65%. The business’s revenue was down 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.09) EPS. As a group, equities research analysts expect that Conduent will post -0.45 EPS for the current 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.