DXC Technology (NYSE:DXC) Sees Large Growth in Short Interest

DXC Technology (NYSE:DXC) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,610,000 shares, an increase of 17.3% from the February 13th total of 6,490,000 shares. Currently, 4.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 7.1 days.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised their price target on shares of DXC Technology from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.38.

DXC Technology Stock Up 1.2 %

Shares of NYSE:DXC traded up $0.20 during trading on Wednesday, reaching $17.55. The stock had a trading volume of 1,383,800 shares, compared to its average volume of 1,569,361. DXC Technology has a one year low of $14.79 and a one year high of $24.83. The company has a market capitalization of $3.18 billion, a P/E ratio of -41.79, a PEG ratio of 1.16 and a beta of 1.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. The firm’s 50-day simple moving average is $19.78 and its 200 day simple moving average is $20.56.

DXC Technology (NYSE:DXC) last released its earnings results on Tuesday, February 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.23. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. As a group, research analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Institutional Trading of DXC Technology

A number of institutional investors have recently bought and sold shares of DXC. US Bancorp DE raised its position in DXC Technology by 17.3% during the 4th quarter. US Bancorp DE now owns 13,406 shares of the company’s stock worth $268,000 after buying an additional 1,977 shares during the last quarter. Principal Financial Group Inc. raised its position in DXC Technology by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 877,399 shares of the company’s stock worth $17,530,000 after buying an additional 25,573 shares during the last quarter. State of Alaska Department of Revenue raised its position in DXC Technology by 86.9% during the 4th quarter. State of Alaska Department of Revenue now owns 192,880 shares of the company’s stock worth $3,853,000 after buying an additional 89,698 shares during the last quarter. Victory Capital Management Inc. raised its position in DXC Technology by 22.4% during the 4th quarter. Victory Capital Management Inc. now owns 91,980 shares of the company’s stock worth $1,838,000 after buying an additional 16,850 shares during the last quarter. Finally, Barclays PLC raised its position in DXC Technology by 273.6% during the 3rd quarter. Barclays PLC now owns 85,831 shares of the company’s stock worth $1,781,000 after buying an additional 62,857 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).