DXC Technology Company. (NYSE:DXC) Short Interest Up 15.4% in February

DXC Technology Company. (NYSE:DXC) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 18,164,409 shares, an increase of 15.4% from the February 12th total of 15,747,061 shares. Currently, 10.8% of the company’s stock are short sold. Based on an average trading volume of 2,707,770 shares, the days-to-cover ratio is currently 6.7 days. Based on an average trading volume of 2,707,770 shares, the days-to-cover ratio is currently 6.7 days. Currently, 10.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DXC. BMO Capital Markets lifted their price target on DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Wolfe Research set a $13.00 price objective on DXC Technology and gave the stock an “underperform” rating in a report on Friday, January 30th. Wall Street Zen raised DXC Technology from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Zacks Research downgraded shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $14.71.

Insiders Place Their Bets

In other news, CEO Raul J. Fernandez bought 16,446 shares of DXC Technology stock in a transaction on Monday, February 2nd. The shares were purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Several large investors have recently modified their holdings of DXC. Smartleaf Asset Management LLC increased its stake in DXC Technology by 38.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,814 shares of the company’s stock valued at $38,000 after purchasing an additional 778 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of DXC Technology by 16.3% in the third quarter. CoreCap Advisors LLC now owns 6,271 shares of the company’s stock worth $85,000 after buying an additional 879 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of DXC Technology by 1.8% during the third quarter. Arizona State Retirement System now owns 53,799 shares of the company’s stock valued at $733,000 after buying an additional 961 shares during the last quarter. Lido Advisors LLC increased its position in shares of DXC Technology by 6.1% during the fourth quarter. Lido Advisors LLC now owns 17,383 shares of the company’s stock valued at $241,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of DXC Technology by 116.0% during the fourth quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock valued at $31,000 after acquiring an additional 1,129 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Stock Performance

Shares of DXC opened at $11.81 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.00 billion, a P/E ratio of 5.07 and a beta of 1.10. The business’s 50 day moving average price is $13.68 and its 200-day moving average price is $13.81. DXC Technology has a 52 week low of $11.59 and a 52 week high of $17.68.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.92 EPS. Equities research analysts anticipate that DXC Technology will post 3.35 earnings per share for the current fiscal year.

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.