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

Conduent Incorporated (NASDAQ:CNDT) saw some unusual options trading activity on Friday. Investors purchased 2,217 call options on the stock. This is an increase of 794% compared to the typical daily volume of 248 call options.

Institutional Trading of Conduent

Several institutional investors have recently modified their holdings of the business. HTG Investment Advisors Inc. bought a new stake in shares of Conduent in the 2nd quarter valued at about $37,000. Algert Global LLC bought a new stake in shares of Conduent during the 2nd quarter valued at about $52,000. Oppenheimer Asset Management Inc. bought a new stake in Conduent in the second quarter worth approximately $80,000. Point72 DIFC Ltd lifted its stake in Conduent by 127.9% in the second quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock valued at $89,000 after buying an additional 15,254 shares during the period. Finally, Paloma Partners Management Co bought a new position in shares of Conduent during the 3rd quarter worth approximately $100,000. Institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

Shares of CNDT traded down $0.14 during trading hours on Friday, reaching $4.18. The stock had a trading volume of 182,430 shares, compared to its average volume of 1,098,229. The stock has a market capitalization of $668.34 million, a PE ratio of 1.90 and a beta of 1.46. Conduent has a 12 month low of $2.96 and a 12 month high of $4.44. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. The company’s 50-day moving average is $3.92 and its two-hundred day moving average is $3.70.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The company had revenue of $807.00 million during the quarter, compared to the consensus estimate of $817.33 million. During the same quarter in the prior year, the firm posted ($0.09) earnings per share. The firm’s revenue was down 13.4% compared to the same quarter last year. Research analysts expect that Conduent will post -0.45 EPS for the current year.

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.