Conduent Incorporated (NASDAQ:CNDT) Short Interest Up 11.6% in November

Conduent Incorporated (NASDAQ:CNDT) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,600,000 shares, a growth of 11.6% from the October 31st total of 2,330,000 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 2.4 days.

Conduent Trading Down 1.4 %

Shares of CNDT stock opened at $4.08 on Wednesday. The stock’s 50-day moving average price is $3.87 and its 200-day moving average price is $3.67. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.81. Conduent has a 12-month low of $2.96 and a 12-month high of $4.38. The stock has a market capitalization of $652.35 million, a price-to-earnings ratio of 1.80 and a beta of 1.46.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $807.00 million for the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. Conduent’s revenue was down 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.09) earnings per share. Equities research analysts predict that Conduent will post -0.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Conduent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of Conduent by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,393,900 shares of the company’s stock valued at $7,804,000 after buying an additional 520,000 shares during the last quarter. Factorial Partners LLC purchased a new stake in Conduent in the second quarter valued at approximately $3,295,000. Creative Planning grew its stake in shares of Conduent by 74.2% in the third quarter. Creative Planning now owns 60,843 shares of the company’s stock worth $245,000 after acquiring an additional 25,912 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Conduent by 25.0% in the second quarter. Panagora Asset Management Inc. now owns 970,758 shares of the company’s stock worth $3,165,000 after acquiring an additional 194,250 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Conduent by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company’s stock worth $456,000 after purchasing an additional 7,890 shares in the last quarter. Hedge funds and other institutional investors 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.