DXC Technology Company. (NYSE:DXC) Short Interest Up 25.8% in February

DXC Technology Company. (NYSE:DXC) was the recipient of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 15,747,061 shares, an increase of 25.8% from the January 29th total of 12,515,568 shares. Approximately 9.3% of the shares of the stock are sold short. Based on an average trading volume of 3,466,718 shares, the days-to-cover ratio is presently 4.5 days. Based on an average trading volume of 3,466,718 shares, the days-to-cover ratio is presently 4.5 days. Approximately 9.3% of the shares of the stock are sold short.

DXC Technology Stock Up 1.3%

Shares of NYSE:DXC traded up $0.16 during trading on Wednesday, reaching $12.49. 2,211,873 shares of the stock traded hands, compared to its average volume of 2,804,948. DXC Technology has a 52-week low of $11.61 and a 52-week high of $18.90. The stock has a 50-day moving average of $14.12 and a two-hundred day moving average of $13.92. 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 stock has a market cap of $2.12 billion, a P/E ratio of 5.36 and a beta of 1.10.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.83 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.DXC Technology’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm posted $0.92 earnings per share. As a group, sell-side analysts expect that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DXC has been the subject of several research reports. BMO Capital Markets increased their target price on DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Zacks Research raised DXC Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Wolfe Research set a $13.00 price target on shares of DXC Technology and gave the company an “underperform” rating in a research note on Friday, January 30th. Finally, Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $14.71.

Insider Buying and Selling at DXC Technology

In related news, CEO Raul J. Fernandez purchased 16,446 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $15.15, for a total value of $37,875.00. Following the completion of the transaction, the senior vice president directly owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. This trade represents a 2.74% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of DXC Technology by 156.3% during the 1st quarter. Royal Bank of Canada now owns 99,930 shares of the company’s stock valued at $1,703,000 after purchasing an additional 60,935 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in DXC Technology by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock worth $21,134,000 after buying an additional 49,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of DXC Technology by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 735,597 shares of the company’s stock worth $12,542,000 after acquiring an additional 34,544 shares during the period. Teacher Retirement System of Texas grew its position in shares of DXC Technology by 8.8% during the second quarter. Teacher Retirement System of Texas now owns 85,464 shares of the company’s stock worth $1,307,000 after purchasing an additional 6,927 shares in the last quarter. Finally, Kovack Advisors Inc. bought a new stake in DXC Technology during the 2nd quarter valued at approximately $154,000. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Company Profile

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.