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

DXC Technology (NYSE:DXC) was the recipient of a significant increase in short interest in 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. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 7.1 days. Approximately 4.3% of the company’s shares are sold short.

DXC Technology Trading Up 1.2 %

Shares of DXC Technology stock traded up $0.20 during midday trading on Wednesday, reaching $17.55. 1,383,800 shares of the company’s stock traded hands, compared to its average volume of 1,569,361. The stock has a 50 day moving average of $19.78 and a 200-day moving average of $20.56. DXC Technology has a 12 month low of $14.79 and a 12 month high of $24.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $3.18 billion, a PE ratio of -41.79, a price-to-earnings-growth ratio of 1.16 and a beta of 1.62.

DXC Technology (NYSE:DXC) last issued its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina lifted its stake in shares of DXC Technology by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company’s stock worth $1,571,000 after buying an additional 490 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company’s stock valued at $1,048,000 after purchasing an additional 566 shares during the last quarter. Vident Advisory LLC raised its holdings in shares of DXC Technology by 2.5% during the fourth quarter. Vident Advisory LLC now owns 25,279 shares of the company’s stock valued at $505,000 after purchasing an additional 624 shares during the last quarter. Highland Capital Management LLC raised its holdings in shares of DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company’s stock valued at $237,000 after purchasing an additional 731 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of DXC Technology by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company’s stock valued at $655,000 after purchasing an additional 740 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

About DXC Technology

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).