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

Conduent Incorporated (NASDAQ:CNDT) saw a large increase in short interest in 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. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is currently 2.1 days.

Conduent Stock Down 2.0 %

Shares of NASDAQ:CNDT traded down $0.09 during trading hours on Tuesday, hitting $4.12. The company’s stock had a trading volume of 1,176,243 shares, compared to its average volume of 862,740. The firm’s fifty day moving average price is $4.10 and its 200 day moving average price is $3.89. Conduent has a 52 week low of $2.96 and a 52 week high of $4.90. The company has a market capitalization of $657.95 million, a price-to-earnings ratio of 1.81 and a beta of 1.41. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data 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%. As a group, research analysts expect that Conduent will post -0.45 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNDT. Picton Mahoney Asset Management raised its stake in shares of Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock worth $35,000 after acquiring an additional 6,524 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Conduent in the fourth quarter worth $41,000. SilverOak Wealth Management LLC acquired a new position in shares of Conduent during the fourth quarter worth $53,000. Bailard Inc. purchased a new stake in shares of Conduent during the 4th quarter valued at $58,000. Finally, Cibc World Markets Corp purchased a new stake in shares of Conduent during the 4th quarter valued at $60,000. 77.28% of the stock is owned by institutional investors.

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.