Conduent Sees Unusually Large Options Volume (NASDAQ:CNDT)

Conduent Incorporated (NASDAQ:CNDT) was the target of unusually large options trading activity on Friday. Stock traders bought 2,217 call options on the company. This is an increase of 794% compared to the typical daily volume of 248 call options.

Conduent Stock Performance

NASDAQ CNDT opened at $4.21 on Friday. The firm has a 50-day moving average price of $3.92 and a two-hundred day moving average price of $3.71. Conduent has a 12-month low of $2.96 and a 12-month high of $4.44. The company has a market capitalization of $673.14 million, a P/E ratio of 1.85 and a beta of 1.46. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.01. Conduent had a negative return on equity of 7.94% and a net margin of 12.65%. The business had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $817.33 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The firm’s revenue for the quarter was down 13.4% compared to the same quarter last year. Analysts anticipate that Conduent will post -0.45 earnings per share for the current year.

Institutional Trading of Conduent

Several large investors have recently modified their holdings of CNDT. ClariVest Asset Management LLC increased its stake in Conduent by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 195,628 shares of the company’s stock valued at $638,000 after acquiring an additional 5,464 shares during the last quarter. Diversified Trust Co increased its stake in shares of Conduent by 12.4% in the 2nd quarter. Diversified Trust Co now owns 57,156 shares of the company’s stock valued at $186,000 after purchasing an additional 6,290 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Conduent by 6.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company’s stock worth $456,000 after buying an additional 7,890 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Conduent by 10.0% during the 3rd quarter. Franklin Resources Inc. now owns 118,841 shares of the company’s stock worth $477,000 after buying an additional 10,787 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Conduent by 7.8% in the third quarter. Public Employees Retirement System of Ohio now owns 157,607 shares of the company’s stock valued at $635,000 after buying an additional 11,464 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

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.