Investors Buy Large Volume of DXC Technology Put Options (NYSE:DXC)

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

DXC Technology Stock Performance

DXC Technology stock opened at $17.39 on Friday. DXC Technology has a fifty-two week low of $14.79 and a fifty-two week high of $24.83. The firm’s fifty day moving average price is $19.42 and its 200-day moving average price is $20.40. The stock has a market cap of $3.15 billion, a P/E ratio of -41.41, a price-to-earnings-growth ratio of 1.16 and a beta of 1.62. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.23. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. On average, equities research analysts expect that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their price target on shares of DXC Technology from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.29.

Hedge Funds Weigh In On DXC Technology

Large investors have recently bought and sold shares of the stock. 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 purchasing an additional 900 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of DXC Technology during the fourth quarter valued at approximately $55,000. Smartleaf Asset Management LLC raised its holdings in shares of DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock valued at $60,000 after acquiring an additional 2,356 shares in the last quarter. Brown Lisle Cummings Inc. lifted its stake in DXC Technology by 60.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock worth $64,000 after acquiring an additional 1,200 shares during the period. Finally, Quarry LP increased its position 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 purchasing an additional 3,413 shares during the period. 96.20% of the stock is owned by hedge funds and other 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).