Short Interest in Conduent Incorporated (NASDAQ:CNDT) Increases By 29.6%

Conduent Incorporated (NASDAQ:CNDT) saw a significant increase in short interest in February. As of February 15th, there was short interest totalling 2,980,000 shares, an increase of 29.6% from the January 31st total of 2,300,000 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average trading volume of 1,020,000 shares, the days-to-cover ratio is currently 2.9 days.

Conduent Stock Performance

CNDT stock traded down $0.03 during trading on Tuesday, hitting $3.32. 955,690 shares of the company traded hands, compared to its average volume of 1,067,166. The stock’s 50-day simple moving average is $3.97 and its 200 day simple moving average is $3.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The company has a market cap of $537.28 million, a PE ratio of 1.54 and a beta of 1.41. Conduent has a 1 year low of $2.96 and a 1 year high of $4.90.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. On average, equities analysts expect that Conduent will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNDT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Conduent by 26.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 420,024 shares of the company’s stock valued at $1,697,000 after purchasing an additional 86,553 shares during the period. Two Sigma Investments LP grew its holdings in Conduent by 10.7% in the fourth quarter. Two Sigma Investments LP now owns 377,846 shares of the company’s stock valued at $1,526,000 after purchasing an additional 36,509 shares during the period. State of Wyoming grew its holdings in Conduent by 93.5% in the fourth quarter. State of Wyoming now owns 55,047 shares of the company’s stock valued at $222,000 after purchasing an additional 26,597 shares during the period. ProShare Advisors LLC grew its holdings in Conduent by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 44,532 shares of the company’s stock valued at $180,000 after purchasing an additional 14,653 shares during the period. Finally, Millennium Management LLC grew its holdings in Conduent by 59.5% in the fourth quarter. Millennium Management LLC now owns 912,465 shares of the company’s stock valued at $3,686,000 after purchasing an additional 340,283 shares during the period. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.