Short Interest in Conduent Incorporated (NASDAQ:CNDT) Grows By 8.5%

Conduent Incorporated (NASDAQ:CNDT) saw a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 2,300,000 shares, an increase of 8.5% from the January 15th total of 2,120,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 2.1 days.

Conduent Trading Down 1.9 %

Shares of CNDT opened at $4.12 on Tuesday. Conduent has a 52-week low of $2.96 and a 52-week high of $4.90. The business’s fifty day moving average is $4.10 and its 200-day moving average is $3.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a market cap of $658.75 million, a price-to-earnings ratio of 1.81 and a beta of 1.41.

Conduent (NASDAQ:CNDT) last issued its quarterly 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 12.65% and a negative return on equity of 7.94%. Equities analysts anticipate that Conduent will post -0.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

Several hedge funds have recently modified their holdings of CNDT. JPMorgan Chase & Co. boosted its holdings in shares of Conduent by 526.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,216,978 shares of the company’s stock valued at $12,997,000 after acquiring an additional 2,703,849 shares in the last quarter. Blue Owl Capital Holdings LP boosted its holdings in shares of Conduent by 67.3% during the 4th quarter. Blue Owl Capital Holdings LP now owns 5,625,459 shares of the company’s stock valued at $22,727,000 after acquiring an additional 2,262,437 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Conduent by 156.8% during the 4th quarter. American Century Companies Inc. now owns 2,354,300 shares of the company’s stock valued at $9,511,000 after acquiring an additional 1,437,479 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Conduent by 1,011.1% during the 4th quarter. Prudential Financial Inc. now owns 1,506,557 shares of the company’s stock valued at $6,086,000 after acquiring an additional 1,370,961 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Conduent by 100.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,317,936 shares of the company’s stock valued at $9,364,000 after acquiring an additional 1,162,068 shares in the last quarter. Institutional investors and hedge funds 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.