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

Conduent Incorporated (NASDAQ:CNDT) was the target of a significant increase in short interest during 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 shares of the company are short sold. Based on an average daily trading 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 and hedge funds have recently added to or reduced their stakes in CNDT. Diversified Trust Co increased its stake in shares of Conduent by 9.2% in the first quarter. Diversified Trust Co now owns 50,866 shares of the company’s stock worth $172,000 after purchasing an additional 4,306 shares in the last quarter. ClariVest Asset Management LLC raised its holdings in Conduent by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after acquiring an additional 5,464 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Conduent by 6.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company’s stock valued at $456,000 after acquiring an additional 7,890 shares in the last quarter. Guardian Capital LP bought a new position in shares of Conduent in the first quarter worth about $34,000. Finally, HTG Investment Advisors Inc. purchased a new stake in shares of Conduent during the second quarter worth about $37,000. Institutional investors own 77.28% of the company’s stock.

Conduent Stock Performance

Shares of NASDAQ:CNDT traded up $0.03 during midday trading on Wednesday, hitting $3.67. The company had a trading volume of 836,138 shares, compared to its average volume of 1,090,415. Conduent has a 12-month low of $2.40 and a 12-month high of $4.22. The company has a fifty day moving average of $3.82 and a two-hundred day moving average of $3.60. The company has a market cap of $596.00 million, a price-to-earnings ratio of 17.33 and a beta of 1.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.65 and a quick ratio of 1.65.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.14. Conduent had a negative return on equity of 7.81% and a net margin of 0.88%. The business had revenue of $811.00 million during the quarter, compared to analysts’ expectations of $803.33 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts expect that Conduent will post -0.53 EPS for the current fiscal 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.