DXC Technology Sees Unusually Large Options Volume (NYSE:DXC)
DXC Technology (NYSE:DXC - Get Rating) was the target of unusually large options trading activity on Friday. Investors bought 8,662 put options on the company. This is an increase of approximately 162% compared to the typical daily volume of 3,301 put options.
DXC Technology Stock Performance
Shares of NYSE:DXC traded down $0.73 on Friday, hitting $26.27. The company had a trading volume of 26,327 shares, compared to its average volume of 2,238,913. DXC Technology has a 1-year low of $22.65 and a 1-year high of $39.65. The stock has a market cap of $6.04 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 0.61 and a beta of 1.93. The stock has a 50 day moving average price of $28.21 and a 200 day moving average price of $28.58. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.75.
DXC Technology (NYSE:DXC - Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. DXC Technology had a net margin of 4.93% and a return on equity of 15.59%. The firm had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.56 billion. Analysts expect that DXC Technology will post 3.52 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have issued reports on DXC. Royal Bank of Canada upped their price target on shares of DXC Technology from $34.00 to $38.00 and gave the stock an "outperform" rating in a research report on Monday, November 7th. JPMorgan Chase & Co. raised shares of DXC Technology from an "underweight" rating to a "neutral" rating and upped their price target for the stock from $31.00 to $33.00 in a research report on Thursday. BMO Capital Markets dropped their price target on shares of DXC Technology from $36.00 to $33.00 and set an "outperform" rating on the stock in a research report on Friday, November 4th. Susquehanna lowered shares of DXC Technology from a "positive" rating to a "neutral" rating and dropped their price target for the stock from $39.00 to $31.00 in a research report on Friday, September 16th. Finally, Susquehanna Bancshares lowered shares of DXC Technology to a "neutral" rating and dropped their price target for the stock from $39.00 to $31.00 in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $35.09.
Insider Transactions at DXC Technology
In other news, Director Raul J. Fernandez sold 5,000 shares of the business's stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $29.75, for a total value of $148,750.00. Following the sale, the director now owns 47,092 shares of the company's stock, valued at $1,400,987. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Raul J. Fernandez sold 10,000 shares of the business's stock in a transaction on Friday, November 11th. The shares were sold at an average price of $29.39, for a total value of $293,900.00. Following the sale, the director now owns 52,092 shares of the company's stock, valued at $1,530,983.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raul J. Fernandez sold 5,000 shares of the business's stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $29.75, for a total transaction of $148,750.00. Following the completion of the sale, the director now directly owns 47,092 shares in the company, valued at approximately $1,400,987. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.
Hedge Funds Weigh In On DXC Technology
Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of DXC Technology by 9.8% in the first quarter. Invesco Ltd. now owns 13,236,007 shares of the company's stock valued at $431,892,000 after acquiring an additional 1,181,582 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of DXC Technology by 13.4% in the third quarter. Victory Capital Management Inc. now owns 9,285,409 shares of the company's stock valued at $227,306,000 after acquiring an additional 1,096,344 shares in the last quarter. Glenview Capital Management LLC grew its stake in shares of DXC Technology by 5.0% in the second quarter. Glenview Capital Management LLC now owns 7,923,704 shares of the company's stock valued at $240,167,000 after acquiring an additional 374,693 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of DXC Technology by 11.2% in the third quarter. Dimensional Fund Advisors LP now owns 5,454,220 shares of the company's stock valued at $133,524,000 after acquiring an additional 548,891 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of DXC Technology by 1.0% in the second quarter. Clearbridge Investments LLC now owns 4,946,064 shares of the company's stock valued at $149,915,000 after acquiring an additional 50,967 shares in the last quarter. 87.01% of the stock is currently owned by institutional investors and hedge funds.
DXC Technology Company Profile
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering, consulting, and data analytics solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.
Further Reading
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