Short Interest in Conduent Incorporated (NASDAQ:CNDT) Drops By 5.3%

Conduent Incorporated (NASDAQ:CNDT) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 2,330,000 shares, a decline of 5.3% from the October 15th total of 2,460,000 shares. Based on an average trading volume of 1,050,000 shares, the short-interest ratio is presently 2.2 days. Currently, 1.6% of the company’s stock are short sold.

Conduent Stock Down 3.2 %

Conduent stock opened at $3.92 on Monday. The firm has a market capitalization of $626.77 million, a P/E ratio of 1.73 and a beta of 1.48. The stock’s fifty day simple moving average is $3.88 and its 200-day simple moving average is $3.68. Conduent has a twelve month low of $2.65 and a twelve month high of $4.38. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT) last issued its quarterly 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 the consensus estimate of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. Conduent’s revenue was down 13.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) EPS. As a group, equities analysts expect that Conduent will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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% in 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. Factorial Partners LLC purchased a new stake in Conduent during the 2nd quarter worth about $3,295,000. Jacobs Levy Equity Management Inc. lifted its holdings in Conduent by 198.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company’s stock worth $2,582,000 after buying an additional 508,012 shares during the last quarter. Creative Planning boosted its position in shares of Conduent by 74.2% during the 3rd quarter. Creative Planning now owns 60,843 shares of the company’s stock worth $245,000 after acquiring an additional 25,912 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Conduent by 25.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock valued at $3,165,000 after acquiring an additional 194,250 shares during the last quarter. Hedge funds and other institutional investors 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.