Conduent Incorporated (NASDAQ:CNDT) Short Interest Up 13.8% in November

Conduent Incorporated (NASDAQ:CNDT) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 2,960,000 shares, an increase of 13.8% from the November 15th total of 2,600,000 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of Conduent

Large investors have recently made changes to their positions in the stock. Factorial Partners LLC acquired a new stake in Conduent in the 2nd quarter valued at $3,295,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Conduent by 163.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,519,839 shares of the company’s stock worth $6,125,000 after buying an additional 942,459 shares during the period. Renaissance Technologies LLC grew its stake in shares of Conduent by 27.7% in the second 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 in the last quarter. Jane Street Group LLC raised its holdings 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 valued at $3,360,000 after buying an additional 311,579 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in Conduent by 25.0% during the 2nd 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. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Stock Performance

NASDAQ CNDT traded up $0.05 during trading hours on Monday, hitting $4.26. The company had a trading volume of 1,840,298 shares, compared to its average volume of 1,104,524. The business has a 50 day moving average of $3.92 and a 200-day moving average of $3.71. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.75 and a current ratio of 1.75. Conduent has a 1-year low of $2.96 and a 1-year high of $4.44. The company has a market cap of $681.13 million, a PE ratio of 1.85 and a beta of 1.46.

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