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

DXC Technology (NYSE:DXC) was the recipient of some unusual options trading on Thursday. Stock 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DXC. JPMorgan Chase & Co. increased their price objective on DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Susquehanna increased their price target on DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, BMO Capital Markets boosted 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. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.89.

Institutional Trading of DXC Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its position in DXC Technology by 352.6% during the 2nd quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock worth $11,935,000 after purchasing an additional 487,072 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of DXC Technology during the 3rd quarter worth about $1,438,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of DXC Technology during the second quarter worth about $3,483,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of DXC Technology in the third quarter valued at approximately $1,904,000. Finally, Royce & Associates LP lifted its stake in shares of DXC Technology by 124.7% during the third quarter. Royce & Associates LP now owns 91,971 shares of the company’s stock valued at $1,908,000 after buying an additional 51,041 shares during the period. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Stock Down 4.1 %

Shares of NYSE DXC opened at $20.60 on Friday. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 257.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.65. DXC Technology has a 52 week low of $14.78 and a 52 week high of $24.83. The firm has a 50-day moving average price of $21.33 and a 200 day moving average price of $20.13. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

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

DXC Technology Company Profile

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).