Short Interest in DXC Technology (NYSE:DXC) Rises By 7.7%

DXC Technology (NYSE:DXC) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 9,820,000 shares, a growth of 7.7% from the September 30th total of 9,120,000 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 3,490,000 shares, the short-interest ratio is presently 2.8 days.

DXC Technology Stock Performance

NYSE:DXC opened at $20.17 on Wednesday. The company has a market capitalization of $4.14 billion, a PE ratio of -7.10, a P/E/G ratio of 1.08 and a beta of 1.92. DXC Technology has a fifty-two week low of $18.61 and a fifty-two week high of $30.27. The company has a 50 day simple moving average of $20.72 and a two-hundred day simple moving average of $23.40. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.14.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). DXC Technology had a negative net margin of 4.47% and a positive return on equity of 17.63%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Research analysts anticipate that DXC Technology will post 3.15 earnings per share for the current year.

Insider Transactions at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 75,000 shares of DXC Technology stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $20.72, for a total value of $1,554,000.00. Following the transaction, the executive vice president now owns 142,908 shares of the company’s stock, valued at approximately $2,961,053.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of DXC Technology

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. increased its stake in shares of DXC Technology by 7.1% in the 1st quarter. Franklin Resources Inc. now owns 18,540,675 shares of the company’s stock worth $473,900,000 after acquiring an additional 1,223,426 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of DXC Technology by 1.0% in the second quarter. BlackRock Inc. now owns 15,840,800 shares of the company’s stock worth $423,266,000 after buying an additional 162,032 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of DXC Technology by 0.4% in the first quarter. Victory Capital Management Inc. now owns 9,333,459 shares of the company’s stock worth $238,563,000 after buying an additional 35,672 shares during the last quarter. State Street Corp boosted its holdings in shares of DXC Technology by 2.2% in the second quarter. State Street Corp now owns 8,103,448 shares of the company’s stock worth $216,524,000 after buying an additional 176,003 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of DXC Technology by 16.0% in the second quarter. Dimensional Fund Advisors LP now owns 7,133,301 shares of the company’s stock worth $190,598,000 after buying an additional 981,650 shares during the last quarter. Institutional investors own 88.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DXC shares. TD Cowen reissued a “market perform” rating and issued a $25.00 target price (down from $34.00) on shares of DXC Technology in a research report on Thursday, August 3rd. Morgan Stanley dropped their target price on shares of DXC Technology from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Royal Bank of Canada downgraded shares of DXC Technology from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $34.00 to $29.00 in a research report on Thursday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of DXC Technology from $29.00 to $28.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 22nd. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $22.00 price objective on shares of DXC Technology in a research report on Tuesday, October 17th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.30.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).