Short Interest in DXC Technology (NYSE:DXC) Expands By 17.3%

DXC Technology (NYSE:DXC) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 7,610,000 shares, a growth of 17.3% from the February 13th total of 6,490,000 shares. Based on an average daily trading volume, of 1,070,000 shares, the days-to-cover ratio is currently 7.1 days. Currently, 4.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in DXC Technology by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,816,970 shares of the company’s stock valued at $116,223,000 after purchasing an additional 907,004 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of DXC Technology by 4.7% during the 3rd quarter. Pacer Advisors Inc. now owns 20,140,488 shares of the company’s stock worth $417,915,000 after buying an additional 899,510 shares during the period. Norges Bank acquired a new stake in DXC Technology in the 4th quarter valued at $17,399,000. Assenagon Asset Management S.A. grew its position in DXC Technology by 4,893.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 669,576 shares of the company’s stock valued at $13,378,000 after acquiring an additional 656,167 shares during the period. Finally, AQR Capital Management LLC raised its stake in DXC Technology by 43.8% during the fourth quarter. AQR Capital Management LLC now owns 1,943,649 shares of the company’s stock worth $38,834,000 after acquiring an additional 591,841 shares in the last quarter. 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 stock an “equal weight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.29.

DXC Technology Price Performance

Shares of NYSE:DXC opened at $17.13 on Friday. The firm has a market capitalization of $3.10 billion, a PE ratio of -40.79, a PEG ratio of 1.16 and a beta of 1.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 1-year low of $14.79 and a 1-year high of $24.83. The business’s 50 day moving average is $19.72 and its 200-day moving average is $20.53.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results 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 negative net margin of 0.57% and a positive return on equity of 20.70%. Sell-side 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).