DXC Technology Co (NYSE:DXC) Short Interest Update

DXC Technology Co (NYSE:DXC) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 5,187,700 shares, a drop of 9.3% from the June 30th total of 5,719,700 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,160,000 shares, the short-interest ratio is currently 1.6 days.

DXC Technology stock traded up $1.18 on Friday, hitting $31.79. The company’s stock had a trading volume of 5,263,887 shares, compared to its average volume of 2,645,516. The firm has a market cap of $8.93 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 1.18 and a beta of 1.74. The company has a quick ratio of 0.96, a current ratio of 0.88 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average price of $52.31 and a 200-day moving average price of $58.89. DXC Technology has a one year low of $30.11 and a one year high of $96.75.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Analysts anticipate that DXC Technology will post 7.4 EPS for the current year.

Several research firms have recently weighed in on DXC. Bank of America dropped their target price on shares of DXC Technology from $64.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Goldman Sachs Group lowered shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a research report on Monday, April 22nd. BMO Capital Markets lowered shares of DXC Technology from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $60.00 to $48.00 in a research report on Friday, August 9th. Cowen dropped their target price on shares of DXC Technology from $83.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of DXC Technology in a research report on Sunday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. DXC Technology has a consensus rating of “Hold” and an average price target of $69.17.

In other news, EVP Joanne Mason sold 48,679 shares of DXC Technology stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $51.99, for a total value of $2,530,821.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John M. Lawrie bought 4,166 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $56.26 per share, for a total transaction of $234,379.16. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 22,066 shares of company stock worth $1,153,043. 0.81% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Advisor Partners LLC lifted its position in DXC Technology by 2.1% during the 1st quarter. Advisor Partners LLC now owns 8,341 shares of the company’s stock worth $536,000 after buying an additional 168 shares in the last quarter. Commerce Bank lifted its position in DXC Technology by 1.7% during the 1st quarter. Commerce Bank now owns 10,287 shares of the company’s stock valued at $661,000 after purchasing an additional 172 shares during the period. Whittier Trust Co. lifted its position in DXC Technology by 5.1% during the 1st quarter. Whittier Trust Co. now owns 3,741 shares of the company’s stock valued at $241,000 after purchasing an additional 182 shares during the period. AGF Investments LLC lifted its position in DXC Technology by 0.8% during the 2nd quarter. AGF Investments LLC now owns 22,639 shares of the company’s stock valued at $1,249,000 after purchasing an additional 189 shares during the period. Finally, Keel Point LLC lifted its position in DXC Technology by 5.5% during the 2nd quarter. Keel Point LLC now owns 3,912 shares of the company’s stock valued at $216,000 after purchasing an additional 205 shares during the period. 86.39% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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