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

by · The Markets Daily

Conduent Incorporated (NASDAQ:CNDT – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,460,000 shares, a growth of 23.6% from the September 30th total of 1,990,000 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 2.3 days.

Institutional Investors Weigh In On Conduent

A number of institutional investors have recently added to or reduced their stakes in CNDT. US Bancorp DE boosted its position in shares of Conduent by 1,484.1% during the third quarter. US Bancorp DE now owns 30,352 shares of the company’s stock worth $122,000 after acquiring an additional 28,436 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Conduent by 9.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 684,246 shares of the company’s stock valued at $2,758,000 after purchasing an additional 57,183 shares during the last quarter. Creative Planning grew its position in shares of Conduent by 74.2% during the third quarter. Creative Planning now owns 60,843 shares of the company’s stock valued at $245,000 after purchasing an additional 25,912 shares in the last quarter. Point72 DIFC Ltd lifted its position in shares of Conduent by 127.9% in the second quarter. Point72 DIFC Ltd now owns 27,185 shares of the company’s stock worth $89,000 after buying an additional 15,254 shares in the last quarter. Finally, Algert Global LLC purchased a new stake in shares of Conduent in the second quarter worth about $52,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Conduent Stock Performance

Conduent stock traded up $0.03 during midday trading on Wednesday, hitting $3.67. The stock had a trading volume of 836,138 shares, compared to its average volume of 1,090,415. Conduent has a 52-week low of $2.40 and a 52-week high of $4.22. The company has a market capitalization of $596.00 million, a PE ratio of 17.33 and a beta of 1.47. The firm’s fifty day moving average is $3.82 and its two-hundred day moving average is $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 (NASDAQ:CNDT – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.14. The firm had revenue of $811.00 million for the quarter, compared to the consensus estimate of $803.33 million. Conduent had a net margin of 0.88% and a negative return on equity of 7.81%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 EPS. On average, research analysts forecast that Conduent will post -0.53 EPS for the current year.

About Conduent

(Get Free Report)

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.

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