Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Conduent during the 1st quarter worth approximately $219,000. BNP Paribas Financial Markets boosted its position in shares of Conduent by 49.0% during the first quarter. BNP Paribas Financial Markets now owns 143,384 shares of the company’s stock worth $485,000 after buying an additional 47,176 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Conduent by 66.9% in the first quarter. Russell Investments Group Ltd. now owns 103,425 shares of the company’s stock valued at $350,000 after buying an additional 41,450 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Conduent by 25.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 122,561 shares of the company’s stock valued at $401,000 after buying an additional 24,839 shares during the period. Finally, Guardian Capital LP acquired a new position in Conduent during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Stock Down 3.2 %

CNDT stock opened at $3.92 on Monday. Conduent has a one year low of $2.65 and a one year high of $4.38. The firm has a market cap of $626.77 million, a PE ratio of 1.73 and a beta of 1.48. The firm’s 50 day moving average price is $3.88 and its 200-day moving average price is $3.68. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75.

Conduent (NASDAQ:CNDT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. On average, equities research analysts anticipate that Conduent will post -0.45 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.