Short Interest in DXC Technology (NYSE:DXC) Decreases By 7.5%

DXC Technology (NYSE:DXC) was the recipient of a significant drop in short interest in November. As of November 30th, there was short interest totalling 8,070,000 shares, a drop of 7.5% from the November 15th total of 8,720,000 shares. Approximately 4.5% of the shares of the stock are sold short. Based on an average daily volume of 1,260,000 shares, the days-to-cover ratio is currently 6.4 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Susquehanna lifted their price objective on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on shares of DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, DXC Technology presently has an average rating of “Hold” and an average target price of $20.89.

DXC Technology Stock Up 0.0 %

Shares of DXC Technology stock traded up $0.01 on Monday, reaching $21.47. 672,469 shares of the company were exchanged, compared to its average volume of 2,032,025. DXC Technology has a 1-year low of $14.78 and a 1-year high of $25.09. The stock’s 50 day moving average price is $21.25 and its 200-day moving average price is $20.04. The company has a market cap of $3.89 billion, a P/E ratio of 268.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, equities analysts forecast that DXC Technology will post 3.18 EPS for the current year.

Institutional Investors Weigh In On DXC Technology

A number of hedge funds have recently added to or reduced their stakes in DXC. Franklin Resources Inc. increased its holdings in DXC Technology by 2.4% in the third quarter. Franklin Resources Inc. now owns 63,230 shares of the company’s stock valued at $1,272,000 after buying an additional 1,502 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of DXC Technology in the third quarter valued at $258,000. Barclays PLC boosted its stake in shares of 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 purchasing an additional 62,857 shares during the last quarter. M&T Bank Corp grew its stake in DXC Technology by 29.3% in the 3rd quarter. M&T Bank Corp now owns 14,602 shares of the company’s stock worth $303,000 after acquiring an additional 3,309 shares during the period. Finally, XTX Topco Ltd increased its stake in DXC Technology by 294.7% in the third quarter. XTX Topco Ltd now owns 53,686 shares of the company’s stock valued at $1,114,000 after purchasing an additional 40,085 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

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).