Conduent Inc (NYSE:CNDT) Short Interest Up 7.2% in October
Conduent Inc (NYSE:CNDT) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 10,380,000 shares, an increase of 7.2% from the September 30th total of 9,680,000 shares. Based on an average daily trading volume, of 2,720,000 shares, the days-to-cover ratio is currently 3.8 days. Currently, 5.1% of the shares of the company are short sold.
Shares of CNDT traded up $0.09 during trading hours on Friday, reaching $6.65. The company had a trading volume of 920,866 shares, compared to its average volume of 1,632,059. The firm has a 50 day simple moving average of $6.12 and a 200-day simple moving average of $7.97. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.92. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 6.33 and a beta of 1.83. Conduent has a 12-month low of $5.26 and a 12-month high of $15.48.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Conduent had a negative net margin of 32.11% and a positive return on equity of 6.33%. The business’s revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Sell-side analysts forecast that Conduent will post 0.63 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Conduent by 342.5% in the 2nd quarter. Parallel Advisors LLC now owns 2,757 shares of the company’s stock valued at $26,000 after purchasing an additional 2,134 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Conduent by 1,014.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,687 shares of the company’s stock valued at $26,000 after acquiring an additional 2,446 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Conduent by 153.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,817 shares of the company’s stock valued at $43,000 after acquiring an additional 4,130 shares in the last quarter. Westside Investment Management Inc. purchased a new position in Conduent during the 2nd quarter valued at about $50,000. Finally, HM Payson & Co. purchased a new position in Conduent during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 90.53% of the company’s stock.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. 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.
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