Stock Traders Buy High Volume of Put Options on DXC Technology (NYSE:DXC)

DXC Technology (NYSE:DXC) was the target of unusually large options trading on Thursday. Investors purchased 5,431 put options on the stock. This represents an increase of approximately 1,120% compared to the typical daily volume of 445 put options.

DXC Technology Stock Performance

Shares of DXC stock opened at $21.49 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average of $21.33 and a 200-day moving average of $20.13. DXC Technology has a one year low of $14.78 and a one year high of $24.83. The company has a market cap of $3.89 billion, a P/E ratio of 268.66, a P/E/G ratio of 1.40 and a beta of 1.65.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.72 by $0.21. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the business posted $0.70 EPS. Equities research analysts forecast that DXC Technology will post 3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Susquehanna lifted their price target on shares of DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. BMO Capital Markets raised their price objective on shares of DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. boosted their target price on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.89.

Institutional Trading of DXC Technology

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in DXC Technology by 2.4% in the third quarter. Franklin Resources Inc. now owns 63,230 shares of the company’s stock worth $1,272,000 after acquiring an additional 1,502 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of DXC Technology during the 3rd quarter worth approximately $258,000. Barclays PLC raised its holdings in shares of DXC Technology by 273.6% in the 3rd quarter. Barclays PLC now owns 85,831 shares of the company’s stock worth $1,781,000 after purchasing an additional 62,857 shares during the period. M&T Bank Corp lifted its stake in DXC Technology by 29.3% in the third quarter. M&T Bank Corp now owns 14,602 shares of the company’s stock valued at $303,000 after purchasing an additional 3,309 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in DXC Technology by 294.7% during the third quarter. XTX Topco Ltd now owns 53,686 shares of the company’s stock valued at $1,114,000 after purchasing an additional 40,085 shares during the period. 96.20% of the stock is currently owned by institutional investors.

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).