Short Interest in Conduent Incorporated (NASDAQ:CNDT) Increases By 23.6%

Conduent Incorporated (NASDAQ:CNDT) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, an increase of 23.6% from the September 30th total of 1,990,000 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 2.3 days.

Conduent Stock Up 0.8 %

NASDAQ:CNDT traded up $0.03 during trading hours on Wednesday, hitting $3.67. 836,138 shares of the stock traded hands, compared to its average volume of 1,090,415. The firm has a 50 day moving average price of $3.83 and a 200 day moving average price of $3.60. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.05. Conduent has a fifty-two week low of $2.40 and a fifty-two week high of $4.22. The firm has a market cap of $596.00 million, a price-to-earnings ratio of 17.48 and a beta of 1.47.

Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The company had revenue of $811.00 million for the quarter, compared to the consensus estimate of $803.33 million. During the same period in the previous year, the business earned $0.01 EPS. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Conduent will post -0.53 earnings per share for the current year.

Institutional Trading of Conduent

Several large investors have recently added to or reduced their stakes in the company. Guardian Capital LP acquired a new position in shares of Conduent in the first quarter worth $34,000. HTG Investment Advisors Inc. acquired a new position in shares of Conduent in the second quarter worth $37,000. Headlands Technologies LLC increased its stake in shares of Conduent by 1,084.3% in the first quarter. Headlands Technologies LLC now owns 14,366 shares of the company’s stock worth $49,000 after acquiring an additional 13,153 shares during the last quarter. Algert Global LLC acquired a new position in shares of Conduent in the second quarter worth $52,000. Finally, Williams & Novak LLC acquired a new position in shares of Conduent in the second quarter worth $65,000. 77.28% of the stock is owned by institutional investors and hedge funds.

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.