Shell Asset Management Co. Lowers Stake in DXC Technology (NYSE:DXC)

Shell Asset Management Co. reduced its holdings in shares of DXC Technology (NYSE:DXCGet Rating) by 12.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,564 shares of the company’s stock after selling 3,280 shares during the period. Shell Asset Management Co.’s holdings in DXC Technology were worth $736,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Ellevest Inc. raised its holdings in DXC Technology by 141.3% in the first quarter. Ellevest Inc. now owns 753 shares of the company’s stock worth $25,000 after buying an additional 441 shares during the last quarter. Cornerstone Advisory LLC purchased a new position in DXC Technology in the fourth quarter worth about $37,000. Covestor Ltd purchased a new position in DXC Technology in the fourth quarter worth about $55,000. CWM LLC purchased a new position in DXC Technology in the fourth quarter worth about $56,000. Finally, Confluence Wealth Services Inc. purchased a new position in DXC Technology in the fourth quarter worth about $59,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DXC shares. Susquehanna Bancshares decreased their target price on shares of DXC Technology from $42.00 to $41.00 and set a “positive” rating for the company in a report on Thursday, May 26th. Royal Bank of Canada decreased their target price on shares of DXC Technology from $47.00 to $39.00 in a report on Thursday, May 26th. Morgan Stanley reduced their price target on shares of DXC Technology from $36.00 to $33.00 and set an “equal weight” rating for the company in a research note on Thursday, May 26th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of DXC Technology from $53.00 to $48.00 in a research note on Thursday, May 26th. Finally, Cowen reduced their price target on shares of DXC Technology from $45.00 to $43.00 in a research note on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, DXC Technology presently has a consensus rating of “Hold” and an average target price of $38.92.

DXC Technology Stock Performance

Shares of NYSE DXC opened at $31.60 on Monday. The firm has a 50 day moving average of $31.41 and a 200 day moving average of $31.72. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $7.26 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 0.38 and a beta of 2.09. DXC Technology has a 12-month low of $27.28 and a 12-month high of $44.18.

DXC Technology (NYSE:DXCGet Rating) last announced its earnings results on Wednesday, May 25th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.16). The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.12 billion. DXC Technology had a net margin of 4.41% and a return on equity of 17.08%. The business’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. On average, research analysts anticipate that DXC Technology will post 3.93 earnings per share for the current year.

DXC Technology Profile

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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.

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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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