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

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

Conduent Price Performance

CNDT traded down $0.06 during trading on Tuesday, reaching $4.08. 1,061,009 shares of the stock were exchanged, compared to its average volume of 1,104,456. The business’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $3.67. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $652.35 million, a price-to-earnings ratio of 1.76 and a beta of 1.46. Conduent has a 1 year low of $2.96 and a 1 year high of $4.38.

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

Institutional Investors Weigh In On Conduent

Hedge funds have recently bought and sold shares of the business. HTG Investment Advisors Inc. acquired a new stake in Conduent during the 2nd quarter valued at approximately $37,000. Algert Global LLC acquired a new position in shares of Conduent in the 2nd quarter worth approximately $52,000. Williams & Novak LLC acquired a new position in shares of Conduent in the 2nd quarter worth approximately $65,000. Lazard Asset Management LLC acquired a new position in shares of Conduent in the 1st quarter worth approximately $79,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in shares of Conduent in the 2nd quarter worth approximately $80,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

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.