DXC Technology Sees Unusually High Options Volume (NYSE:DXC)

DXC Technology (NYSE:DXC) saw some unusual options trading on Thursday. Stock traders bought 2,646 put options on the company. This represents an increase of approximately 412% compared to the typical volume of 517 put options.

Hedge Funds Weigh In On DXC Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXC. Newbridge Financial Services Group Inc. grew its stake in shares of DXC Technology by 116.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock worth $33,000 after acquiring an additional 900 shares during the period. Meeder Asset Management Inc. purchased a new stake in DXC Technology in the fourth quarter worth approximately $55,000. Smartleaf Asset Management LLC boosted its holdings in DXC Technology by 366.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock worth $60,000 after purchasing an additional 2,356 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in DXC Technology by 60.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock worth $64,000 after purchasing an additional 1,200 shares during the period. Finally, Quarry LP raised its stake in DXC Technology by 604.1% during the 4th quarter. Quarry LP now owns 3,978 shares of the company’s stock valued at $79,000 after buying an additional 3,413 shares during the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

Shares of NYSE:DXC opened at $17.39 on Friday. The business has a fifty day moving average price of $19.42 and a 200-day moving average price of $20.40. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $3.15 billion, a PE ratio of -41.41, a PEG ratio of 1.16 and a beta of 1.62. DXC Technology has a 1-year low of $14.79 and a 1-year high of $24.83.

DXC Technology (NYSE:DXC) last issued its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping 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%. As a group, equities analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley increased their price target 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 research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. Based on data from MarketBeat, DXC Technology currently has an average rating of “Hold” and an average 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).