DXC Technology (NYSE:DXC) Short Interest Down 7.5% in November

DXC Technology (NYSE:DXC) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 8,070,000 shares, a drop of 7.5% from the November 15th total of 8,720,000 shares. Approximately 4.5% of the company’s stock are sold short. Based on an average trading volume of 1,260,000 shares, the short-interest ratio is currently 6.4 days.

DXC Technology Stock Performance

Shares of DXC opened at $21.29 on Wednesday. The company has a market cap of $3.85 billion, a price-to-earnings ratio of 266.13, a P/E/G ratio of 1.40 and a beta of 1.65. The business’s fifty day simple moving average is $21.27 and its two-hundred day simple moving average is $20.08. DXC Technology has a 12 month low of $14.78 and a 12 month high of $25.09. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.21. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same period in the prior year, the company posted $0.70 earnings per share. Research analysts anticipate that DXC Technology will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. BMO Capital Markets upped their price objective on shares of DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised their price objective on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, Susquehanna lifted their price objective on DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, DXC Technology has a consensus rating of “Hold” and a consensus price target of $20.89.

Institutional Trading of DXC Technology

A number of institutional investors have recently made changes to their positions in DXC. Millennium Management LLC lifted its position in DXC Technology by 352.6% during the second quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock valued at $11,935,000 after purchasing an additional 487,072 shares during the period. Point72 Asset Management L.P. purchased a new stake in DXC Technology during the 3rd quarter valued at $1,438,000. Susquehanna Fundamental Investments LLC bought a new position in shares of DXC Technology during the 2nd quarter valued at $3,483,000. Dynamic Technology Lab Private Ltd bought a new position in shares of DXC Technology during the 3rd quarter valued at $1,904,000. Finally, Royce & Associates LP boosted its stake in shares of DXC Technology by 124.7% in the 3rd quarter. Royce & Associates LP now owns 91,971 shares of the company’s stock worth $1,908,000 after buying an additional 51,041 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

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).