Conduent Incorporated (NASDAQ:CNDT) Sees Significant Growth in Short Interest

Conduent Incorporated (NASDAQ:CNDT) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 2,980,000 shares, an increase of 29.6% from the January 31st total of 2,300,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average trading volume of 1,020,000 shares, the days-to-cover ratio is currently 2.9 days.

Institutional Trading of Conduent

A number of institutional investors have recently modified their holdings of the business. Diversified Trust Co lifted its position in shares of Conduent by 7.1% during the fourth quarter. Diversified Trust Co now owns 56,369 shares of the company’s stock worth $228,000 after acquiring an additional 3,743 shares in the last quarter. Rhumbline Advisers grew its holdings in Conduent by 1.5% during the 4th quarter. Rhumbline Advisers now owns 255,334 shares of the company’s stock valued at $1,032,000 after buying an additional 3,775 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Conduent by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company’s stock worth $366,000 after purchasing an additional 3,911 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Conduent by 14.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock valued at $180,000 after purchasing an additional 5,494 shares during the period. Finally, Picton Mahoney Asset Management boosted its holdings in Conduent by 288.7% in the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after purchasing an additional 6,524 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Stock Performance

Shares of Conduent stock traded up $0.01 on Thursday, reaching $3.35. 320,766 shares of the company traded hands, compared to its average volume of 1,061,388. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The firm has a market capitalization of $541.32 million, a PE ratio of 1.55 and a beta of 1.36. The company has a 50 day moving average of $3.95 and a 200 day moving average of $3.91. Conduent has a 52 week low of $2.96 and a 52 week high of $4.90.

Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. Equities analysts forecast that Conduent will post -0.34 earnings per share 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.