DXC Technology (NYSE:DXC) Short Interest Down 37.3% in March

DXC Technology (NYSE:DXC) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 5,490,000 shares, a decline of 37.3% from the March 15th total of 8,750,000 shares. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 3.1% of the shares of the company are short sold.

DXC Technology Price Performance

DXC stock traded down $0.29 during trading on Thursday, reaching $14.36. 1,230,711 shares of the company were exchanged, compared to its average volume of 1,758,019. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The stock’s 50 day moving average price is $17.51 and its 200 day moving average price is $19.81. DXC Technology has a 52-week low of $13.44 and a 52-week high of $24.83. The company has a market cap of $2.60 billion, a P/E ratio of -34.18, a PEG ratio of 1.16 and a beta of 1.37.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts predict that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DXC Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in DXC Technology by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 23,634,617 shares of the company’s stock worth $472,220,000 after acquiring an additional 270,206 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of DXC Technology by 3.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,436,557 shares of the company’s stock worth $208,524,000 after purchasing an additional 378,338 shares in the last quarter. American Century Companies Inc. raised its position in shares of DXC Technology by 18.5% during the 4th quarter. American Century Companies Inc. now owns 5,816,970 shares of the company’s stock worth $116,223,000 after purchasing an additional 907,004 shares during the last quarter. LSV Asset Management lifted its stake in DXC Technology by 0.9% in the 4th quarter. LSV Asset Management now owns 3,382,372 shares of the company’s stock valued at $67,580,000 after buying an additional 31,263 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in DXC Technology by 43.8% during the 4th quarter. AQR Capital Management LLC now owns 1,943,649 shares of the company’s stock valued at $38,834,000 after buying an additional 591,841 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their target price on shares of DXC Technology from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Hold” and a consensus price target of $21.29.

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).