DXC Technology Target of Unusually High Options Trading (NYSE:DXC)

DXC Technology (NYSE:DXC) was the target of some unusual options trading on Thursday. Stock investors bought 2,646 put options on the company. This is an increase of approximately 412% compared to the average volume of 517 put options.

Institutional Trading of DXC Technology

A number of hedge funds have recently modified their holdings of DXC. Quest Partners LLC acquired a new position in shares of DXC Technology in the third quarter valued at $97,000. Cerity Partners LLC increased its holdings in DXC Technology by 109.7% in the 3rd quarter. Cerity Partners LLC now owns 38,752 shares of the company’s stock valued at $804,000 after buying an additional 20,269 shares during the period. Algert Global LLC lifted its holdings in shares of DXC Technology by 283.5% during the 3rd quarter. Algert Global LLC now owns 70,610 shares of the company’s stock worth $1,465,000 after acquiring an additional 52,200 shares during the period. Qsemble Capital Management LP bought a new position in shares of DXC Technology during the 3rd quarter worth about $218,000. Finally, Benjamin Edwards Inc. bought a new stake in DXC Technology in the third quarter valued at about $664,000. Institutional investors own 96.20% of the company’s stock.

Analyst Ratings Changes

Separately, Morgan Stanley boosted their target price 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 issued a hold rating to the company. According to data from MarketBeat.com, DXC Technology currently has a consensus rating of “Hold” and a consensus target price of $21.29.

DXC Technology Stock Performance

Shares of DXC Technology stock traded down $0.27 during midday trading on Thursday, hitting $17.25. The company had a trading volume of 166,789 shares, compared to its average volume of 1,671,330. DXC Technology has a 1-year low of $14.79 and a 1-year high of $24.83. The business’s 50 day simple moving average is $19.48 and its two-hundred day simple moving average is $20.43. The stock has a market cap of $3.12 billion, a PE ratio of -41.05, a P/E/G ratio of 1.16 and a beta of 1.62. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34.

DXC Technology (NYSE:DXC) last posted its quarterly 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 predict that DXC Technology will post 3.35 EPS for the current fiscal 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).