DXC Technology (NYSE: DXC – Get Rating ) saw a big increase in short interest in December. As of December 15, short interest totaled 7.3 million shares, an increase of 22.5% from 5.96 million shares on November 30. About 3.2% of the company’s shares were sold short. Based on an average daily volume of 2,340,000 shares, the current day coverage ratio is 3.1 days.
Analyst Rating Changes
Several equity research analysts recently weighed in on the stock. Susquehanna Bancshares downgraded shares of DXC Technology to a “neutral” rating and lowered their price target for the stock from $39.00 to $31.00 in a report on Friday, September 16th. Royal Bank of Canada upped their price target on shares of DXC Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. BMO Capital Markets cut their price target on DXC Technology from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Susquehanna downgraded shares of DXC Technology from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $39.00 to $31.00 in a research report on Friday, September 16th. Finally, JPMorgan Chase & Co. raised shares of DXC Technology from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $31.00 to $33.00 in a research report on Thursday, December 15th. . One equity research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.09.
DXC Technology Stock Performance
NYSE: DXC opened at $26.50 on Friday. The company has a market capitalization of $6.1 billion, a P/E ratio of 8.63, a P/E ratio of 0.63, and a beta of 1.93. The company’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $27.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.14, and a quick ratio of 1.14. DXC Technology had a fifty-two-week low of $22.65 and a fifty-two-week high of $39.65.
DXC Technology (NYSE: DXC – Get Rating ) last reported its quarterly earnings results on Thursday, November 3rd. The company reported EPS of $0.75 for the quarter, beating analysts’ consensus estimate of $0.72 by $0.03. The business reported revenue of $3.57 billion for the quarter, compared with the consensus estimate of $3.56 billion. DXC Technology has a net profit margin of 4.93% and a return on equity of 15.59%. Taken as a whole, sell-side analysts forecast DXC Technology EPS of 3.49 for the year.
Insider Trading at DXC Technology
In other DXC Technology news, Director Raul J. Fernandez sold 5,000 shares of the company’s stock in trading on Wednesday, November 23rd. The average selling price of these shares was $29.75 for a total value of $148,750.00. Following the sale, the directors now own 47,092 shares of company stock, worth approximately $1,400,987. The sale was disclosed in a legal filing with the Securities and Exchange Commission, available at this link. In other news, director Raul J. Fernandez sold 10,000 shares of company stock in a transaction dated Friday, November 11. These shares sold at an average price of $29.39 for a total value of $293,900.00. Following the sale, the director now owns 52,092 shares of the company, worth approximately $1,530,983.88. The transaction is disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Additionally, Director Raul J. Fernandez sold 5,000 shares of company stock in a transaction dated Wednesday, November 23rd. The stock sold at an average price of $29.75 for a total transaction value of $148,750.00. Following the sale, the directors now directly own 47,092 shares of the company, worth approximately $1,400,987. The disclosure for this sale can be found here. Insiders own 0.47% of the company.
Institutional trading on DXC Technology
Some hedge funds have recently revised their holdings in the company. M&T Bank Corp increased its stake in DXC Technology by 2.5% in the second quarter. M&T Bank Corp now owns 16,255 shares of the company worth $470,000 after purchasing an additional 399 shares last quarter. IMA Wealth Inc. increased its stake in DXC Technology by 3.7% in the second quarter. IMA Wealth Inc. now owns 83,964 shares of the company worth $2,545,000 after purchasing an additional 2,986 shares last quarter. Counterpoint Mutual Funds LLC increased its stake in DXC Technology by 48.2% in the second quarter. Counterpoint Mutual Funds LLC now owns 4,011 shares of the company worth $122,000 after buying an additional 1,304 shares last quarter. Norinchukin Bank increased its stake in DXC Technology by 5.5 percent in the first quarter. Norinchukin Bank now owns 22,659 shares in the company worth $739,000 after buying an additional 1,185 shares last quarter. Finally, Stanley Laman Group Ltd. increased its stake in DXC Technology by 43.3% during the third quarter. Stanley Laman Group Ltd. now owns 120,649 shares of the company worth $2,953,000 after purchasing an additional 36,450 shares last quarter. 89.19% of the shares are currently held by institutional investors and hedge funds.
About DXC Technology
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DXC Technology Company and its subsidiaries provide information technology services and solutions primarily in North America, Europe, Asia and Australia. It is divided into two parts: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a range of analytics services and an extensive partner ecosystem to help its clients gain rapid insights, automate operations and accelerate their digital transformation journeys; as well as software engineering, consulting and data analytics solutions that enable businesses to run and manage its mission-critical functions, transform the way it operates, and develop new ways of doing business.
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