Conduent Incorporated (NASDAQ:CNDT) Short Interest Update

Conduent Incorporated (NASDAQ:CNDT – Get Rating) saw a large growth in short interest in December. As of December 30th, there was short interest totalling 3,070,000 shares, a growth of 29.5% from the December 15th total of 2,370,000 shares. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 799,100 shares, the short-interest ratio is currently 3.8 days.

Institutional Investors Weigh In On Conduent

Several institutional investors and hedge funds have recently made changes to their positions in CNDT. JPMorgan Chase & Co. boosted its position in shares of Conduent by 64.6% in the 1st quarter. JPMorgan Chase & Co. now owns 399,242 shares of the company’s stock worth $2,060,000 after buying an additional 156,754 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Conduent by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,058,972 shares of the company’s stock valued at $5,464,000 after purchasing an additional 36,888 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Conduent by 88.9% in the 1st quarter. MetLife Investment Management LLC now owns 81,505 shares of the company’s stock valued at $421,000 after purchasing an additional 38,357 shares in the last quarter. BlackRock Inc. lifted its holdings in Conduent by 6.9% in the 1st quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock valued at $87,546,000 after purchasing an additional 1,099,590 shares in the last quarter. Finally, APG Asset Management N.V. purchased a new position in Conduent in the 1st quarter valued at about $1,007,000. 77.79% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Price Performance

Shares of NASDAQ CNDT opened at $4.61 on Friday. The firm has a market capitalization of $995.39 million, a P/E ratio of 10.02 and a beta of 1.65. Conduent has a one year low of $3.29 and a one year high of $5.89. The company’s fifty day moving average is $4.11 and its two-hundred day moving average is $3.98. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.76 and a current ratio of 1.76.

Conduent (NASDAQ:CNDT – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Conduent had a net margin of 2.83% and a return on equity of 7.21%. The business had revenue of $977.00 million for the quarter. Analysts forecast that Conduent will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Conduent in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

About Conduent

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Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.