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

DXC Technology Company. (NYSE:DXC) was the recipient of a significant increase in short interest in the month of 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 shares of the company are sold short. Based on an average daily volume of 2,707,770 shares, the days-to-cover ratio is currently 6.7 days. Based on an average daily volume of 2,707,770 shares, the days-to-cover ratio is currently 6.7 days. Currently, 10.8% of the shares of the company are sold short.

DXC Technology Trading Up 1.4%

Shares of NYSE:DXC traded up $0.17 during midday trading on Tuesday, reaching $11.84. The company had a trading volume of 786,237 shares, compared to its average volume of 2,391,208. The company has a fifty day simple moving average of $13.74 and a two-hundred day simple moving average of $13.83. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 5.09 and a beta of 1.10. DXC Technology has a 1-year low of $11.59 and a 1-year high of $17.68.

DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.83 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period last year, the company posted $0.92 earnings per share. Research analysts predict that DXC Technology will post 3.35 earnings per share for the current year.

Insider Buying and Selling at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez bought 16,446 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of $15.24 per share, with a total value of $250,637.04. Following the completion of the acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of DXC Technology

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

Analyst Upgrades and Downgrades

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

About DXC Technology

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.