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

DXC Technology (NYSE:DXC - Get Free Report) was the recipient of a large 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. Approximately 4.3% of the company's shares are sold short. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is presently 7.1 days.

Institutional Trading of DXC Technology

A number of hedge funds have recently added to or reduced their stakes in DXC. Newbridge Financial Services Group Inc. lifted its stake in DXC Technology by 116.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock worth $33,000 after acquiring an additional 900 shares during the period. Prospera Private Wealth LLC purchased a new stake in DXC Technology in the third quarter worth about $49,000. Meeder Asset Management Inc. purchased a new stake in shares of DXC Technology during the fourth quarter valued at about $55,000. Smartleaf Asset Management LLC lifted its position in shares of DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after buying an additional 2,356 shares during the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in shares of DXC Technology by 60.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock valued at $64,000 after buying an additional 1,200 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price target on shares of DXC Technology from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, DXC Technology currently has an average rating of "Hold" and an average price target of $21.29.

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DXC Technology Price Performance

DXC traded down $0.68 during trading hours on Friday, hitting $16.47. The company's stock had a trading volume of 27,673,563 shares, compared to its average volume of 1,666,391. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 12 month low of $14.79 and a 12 month high of $24.83. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -39.21, a P/E/G ratio of 1.16 and a beta of 1.62. The business's 50-day moving average price is $19.66 and its 200-day moving average price is $20.50.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. Sell-side analysts expect that DXC Technology will post 3.35 earnings per share for the current fiscal year.

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).