Investors Buy Large Volume of Put Options on DXC Technology (NYSE:DXC)

DXC Technology (NYSE:DXC - Get Free Report) saw some unusual options trading on Thursday. Investors bought 2,646 put options on the stock. This represents an increase of approximately 412% compared to the typical daily volume of 517 put options.

Wall Street Analyst Weigh In

Separately, Morgan Stanley upped their price objective on shares of DXC Technology from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $21.29.

DXC Technology Price Performance

Shares of DXC Technology stock traded down $0.00 during midday trading on Monday, hitting $17.08. 1,082,492 shares of the company were exchanged, compared to its average volume of 1,748,672. The firm has a 50 day simple moving average of $19.35 and a 200-day simple moving average of $20.37. DXC Technology has a 52 week low of $14.79 and a 52 week high of $24.83. The firm has a market cap of $3.09 billion, a P/E ratio of -40.66, a PEG ratio of 1.16 and a beta of 1.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34.

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

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its stake in DXC Technology by 18.5% in the fourth quarter. American Century Companies Inc. now owns 5,816,970 shares of the company's stock worth $116,223,000 after purchasing an additional 907,004 shares in the last quarter. Norges Bank acquired a new position in DXC Technology during the 4th quarter worth about $17,399,000. Assenagon Asset Management S.A. grew its holdings in DXC Technology by 4,893.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 669,576 shares of the company's stock worth $13,378,000 after acquiring an additional 656,167 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of DXC Technology by 43.8% in the fourth quarter. AQR Capital Management LLC now owns 1,943,649 shares of the company's stock worth $38,834,000 after acquiring an additional 591,841 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of DXC Technology by 99.3% during the fourth quarter. Deutsche Bank AG now owns 1,173,407 shares of the company's stock worth $23,445,000 after purchasing an additional 584,678 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

About DXC Technology

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).