Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

Conduent Incorporated (NASDAQ:CNDT) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 2,980,000 shares, a growth of 29.6% from the January 31st total of 2,300,000 shares. Based on an average trading volume of 1,020,000 shares, the short-interest ratio is currently 2.9 days. Currently, 2.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co increased its holdings in shares of Conduent by 7.1% in the 4th quarter. Diversified Trust Co now owns 56,369 shares of the company’s stock worth $228,000 after buying an additional 3,743 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Conduent by 1.5% in the 4th quarter. Rhumbline Advisers now owns 255,334 shares of the company’s stock valued at $1,032,000 after acquiring an additional 3,775 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Conduent by 4.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company’s stock worth $366,000 after acquiring an additional 3,911 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Conduent by 14.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock worth $180,000 after acquiring an additional 5,494 shares during the last quarter. Finally, Picton Mahoney Asset Management raised its position in Conduent by 288.7% during the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after purchasing an additional 6,524 shares during the period. Institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

Shares of NASDAQ:CNDT traded up $0.06 during trading on Wednesday, hitting $3.38. 508,538 shares of the company’s stock were exchanged, compared to its average volume of 1,065,105. The business’s 50-day simple moving average is $3.97 and its 200 day simple moving average is $3.92. The company has a market cap of $546.18 million, a price-to-earnings ratio of 1.56 and a beta of 1.41. Conduent has a 52-week low of $2.96 and a 52-week high of $4.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts predict that Conduent will post -0.34 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.