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

DXC Technology (NYSE:DXC) was the target of unusually large options trading on Thursday. Traders bought 2,646 put options on the stock. This represents an increase of approximately 412% compared to the average daily volume of 517 put options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXC. US Bancorp DE lifted its position in shares of DXC Technology by 17.3% during the fourth quarter. US Bancorp DE now owns 13,406 shares of the company’s stock worth $268,000 after purchasing an additional 1,977 shares in the last quarter. Principal Financial Group Inc. raised its position in DXC Technology by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 877,399 shares of the company’s stock worth $17,530,000 after purchasing an additional 25,573 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in DXC Technology by 86.9% during the 4th quarter. State of Alaska Department of Revenue now owns 192,880 shares of the company’s stock worth $3,853,000 after buying an additional 89,698 shares in the last quarter. Royce & Associates LP boosted its position in DXC Technology by 35.7% in the 4th quarter. Royce & Associates LP now owns 124,813 shares of the company’s stock valued at $2,494,000 after buying an additional 32,842 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of DXC Technology by 22.4% in the 4th quarter. Victory Capital Management Inc. now owns 91,980 shares of the company’s stock valued at $1,838,000 after buying an additional 16,850 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their price target on DXC Technology from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report 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, DXC Technology currently has an average rating of “Hold” and an average price target of $21.29.

DXC Technology Price Performance

Shares of NYSE:DXC traded down $0.27 during trading on Thursday, reaching $17.25. The stock had a trading volume of 166,789 shares, compared to its average volume of 1,671,330. The stock has a market capitalization of $3.12 billion, a PE ratio of -41.05, 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 current ratio of 1.34 and a quick ratio of 1.34. DXC Technology has a 52 week low of $14.79 and a 52 week high of $24.83. The business’s 50-day moving average price is $19.48 and its 200 day moving average price is $20.43.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.23. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. As a group, equities analysts predict that DXC Technology will post 3.35 earnings per share for the current year.

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).