Short Interest in DXC Technology (NYSE:DXC) Increases By 17.3%

DXC Technology (NYSE:DXC) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 7,610,000 shares, a growth 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 trading volume of 1,070,000 shares, the days-to-cover ratio is presently 7.1 days.

DXC Technology Stock Performance

DXC stock opened at $17.13 on Friday. The firm has a 50 day simple moving average of $19.72 and a 200 day simple moving average of $20.53. DXC Technology has a 52 week low of $14.79 and a 52 week high of $24.83. The stock has a market cap of $3.10 billion, a P/E ratio of -40.79, a P/E/G ratio of 1.16 and a beta of 1.62. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34.

DXC Technology (NYSE:DXC) last released its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Institutional Trading of DXC Technology

A number of institutional investors have recently bought and sold shares of DXC. Newbridge Financial Services Group Inc. lifted its holdings in shares of DXC Technology by 116.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock valued at $33,000 after buying an additional 900 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of DXC Technology in the 3rd quarter valued at approximately $49,000. Meeder Asset Management Inc. bought a new position in shares of DXC Technology in the 4th quarter valued at approximately $55,000. Smartleaf Asset Management LLC boosted its position in DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock worth $60,000 after purchasing an additional 2,356 shares during the period. Finally, Brown Lisle Cummings Inc. boosted its holdings in shares of DXC Technology by 60.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock worth $64,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their price objective 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 company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $21.29.

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).