DXC Technology Co (NYSE:DXC) Short Interest Up 7.1% in December

DXC Technology Co (NYSE:DXC) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 19,250,000 shares, an increase of 7.1% from the December 15th total of 17,970,000 shares. Based on an average trading volume of 4,070,000 shares, the short-interest ratio is currently 4.7 days. Currently, 7.6% of the shares of the stock are short sold.

NYSE DXC traded up $0.56 on Thursday, hitting $35.40. The company’s stock had a trading volume of 13,676 shares, compared to its average volume of 2,699,102. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.00. DXC Technology has a 1-year low of $26.02 and a 1-year high of $69.45. The company’s 50-day moving average is $36.69 and its 200 day moving average is $37.77. The firm has a market cap of $8.87 billion, a PE ratio of 4.26, a PEG ratio of 1.64 and a beta of 2.02.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Monday, November 11th. The company reported $1.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.06). DXC Technology had a negative net margin of 6.04% and a positive return on equity of 18.89%. The business had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same quarter last year, the company posted $2.02 earnings per share. The company’s revenue was down 3.2% compared to the same quarter last year. On average, equities analysts expect that DXC Technology will post 5.47 EPS for the current year.

A number of research firms recently issued reports on DXC. Royal Bank of Canada lowered their price objective on shares of DXC Technology from $67.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. TheStreet cut shares of DXC Technology from a “c-” rating to a “d+” rating in a research report on Monday, November 11th. Cantor Fitzgerald lowered their price objective on shares of DXC Technology from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Wells Fargo & Co cut shares of DXC Technology from an “equal weight” rating to an “underweight” rating and set a $30.00 price objective for the company. in a research report on Thursday, January 9th. Finally, ValuEngine upgraded shares of DXC Technology from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.79.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC boosted its stake in shares of DXC Technology by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 17,479 shares of the company’s stock valued at $516,000 after purchasing an additional 404 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of DXC Technology by 0.5% in the 4th quarter. DNB Asset Management AS now owns 94,730 shares of the company’s stock valued at $3,561,000 after purchasing an additional 430 shares during the last quarter. Alpha Windward LLC boosted its stake in shares of DXC Technology by 11.8% in the 3rd quarter. Alpha Windward LLC now owns 4,381 shares of the company’s stock valued at $129,000 after purchasing an additional 464 shares during the last quarter. Covington Capital Management boosted its stake in shares of DXC Technology by 346.3% in the 2nd quarter. Covington Capital Management now owns 732 shares of the company’s stock valued at $40,000 after purchasing an additional 568 shares during the last quarter. Finally, River Wealth Advisors LLC boosted its stake in shares of DXC Technology by 7.2% in the 3rd quarter. River Wealth Advisors LLC now owns 8,505 shares of the company’s stock valued at $251,000 after purchasing an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 87.35% of the company’s stock.

About DXC Technology

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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