Short Interest in Conduent Incorporated (NASDAQ:CNDT) Declines By 5.3%

Conduent Incorporated (NASDAQ:CNDT) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 2,330,000 shares, a decrease of 5.3% from the October 15th total of 2,460,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Conduent

Institutional investors have recently modified their holdings of the business. Barclays PLC lifted its stake in Conduent by 233.0% in the third quarter. Barclays PLC now owns 271,923 shares of the company’s stock worth $1,096,000 after acquiring an additional 190,269 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Conduent by 7.8% in the 3rd 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 during the period. Jane Street Group LLC boosted its stake in shares of Conduent by 59.7% during the 3rd quarter. Jane Street Group LLC now owns 833,861 shares of the company’s stock worth $3,360,000 after acquiring an additional 311,579 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of Conduent by 163.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after purchasing an additional 942,459 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in Conduent in the 3rd quarter valued at $100,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Stock Down 3.5 %

Shares of CNDT opened at $3.56 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $569.21 million, a PE ratio of 1.57 and a beta of 1.48. The stock has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $3.68. Conduent has a 52-week low of $2.77 and a 52-week high of $4.38.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $807.00 million during the quarter, compared to analysts’ expectations of $817.33 million. Conduent had a net margin of 12.65% and a negative return on equity of 7.94%. The business’s revenue for the quarter was down 13.4% on a year-over-year basis. During the same period last year, the business earned ($0.09) earnings per share. As a group, equities analysts forecast that Conduent will post -0.45 EPS 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.