DXC Technology Co (NYSE:DXC) Short Interest Update

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DXC Technology Co (NYSE:DXC) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 10,269,300 shares, a growth of 98.0% from the July 31st total of 5,187,700 shares. Based on an average trading volume of 3,670,000 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.9% of the shares of the stock are short sold.

A number of research analysts have recently weighed in on the company. Wells Fargo & Co lowered their price target on DXC Technology from $72.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. Stifel Nicolaus lowered their price target on DXC Technology from $46.00 to $37.00 and set a “hold” rating on the stock in a report on Wednesday, August 28th. Susquehanna Bancshares downgraded DXC Technology from a “positive” rating to a “neutral” rating in a report on Thursday. KeyCorp lowered their price target on DXC Technology from $97.00 to $88.00 and set an “overweight” rating on the stock in a report on Monday, May 20th. Finally, BMO Capital Markets downgraded DXC Technology from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $60.00 to $48.00 in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $66.69.

In other news, EVP Joanne Mason sold 48,679 shares of DXC Technology stock in a transaction on Monday, June 17th. The stock was sold at an average price of $51.99, for a total transaction of $2,530,821.21. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO John M. Lawrie purchased 10,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $49.56 per share, for a total transaction of $495,600.00. The disclosure for this purchase can be found here. Insiders purchased a total of 22,066 shares of company stock worth $1,153,043 over the last 90 days. Insiders own 0.81% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Commerce Bank grew its stake in DXC Technology by 1.7% in the first quarter. Commerce Bank now owns 10,287 shares of the company’s stock valued at $661,000 after purchasing an additional 172 shares in the last quarter. AGF Investments LLC lifted its position in shares of DXC Technology by 0.8% in the second quarter. AGF Investments LLC now owns 22,639 shares of the company’s stock worth $1,249,000 after buying an additional 189 shares during the last quarter. Keel Point LLC lifted its position in shares of DXC Technology by 5.5% in the second quarter. Keel Point LLC now owns 3,912 shares of the company’s stock worth $216,000 after buying an additional 205 shares during the last quarter. Patten Group Inc. lifted its position in shares of DXC Technology by 2.0% in the first quarter. Patten Group Inc. now owns 11,124 shares of the company’s stock worth $715,000 after buying an additional 216 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of DXC Technology by 4.8% in the first quarter. Wetherby Asset Management Inc. now owns 5,202 shares of the company’s stock worth $334,000 after buying an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 88.47% of the company’s stock.

NYSE DXC traded up $0.12 on Friday, reaching $32.61. The stock had a trading volume of 4,091,009 shares, compared to its average volume of 4,140,236. The business has a 50 day moving average price of $40.14 and a 200 day moving average price of $54.61. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. DXC Technology has a 1 year low of $30.10 and a 1 year high of $96.75. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 3.91, a P/E/G ratio of 1.26 and a beta of 1.93.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, August 8th. The company reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.03. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts anticipate that DXC Technology will post 7.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 4th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.58%. DXC Technology’s dividend payout ratio (DPR) is currently 10.07%.

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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