Raymond James & Associates Decreases Stock Holdings in DXC Technology (NYSE:DXC)

Raymond James & Associates cut its stake in DXC Technology (NYSE:DXC – Get Rating) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,666 shares of the company’s stock after selling 1,513 shares during the period. Raymond James & Associates’ holdings in DXC Technology were worth $5,821,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DXC. UBS Group AG grew its holdings in shares of DXC Technology by 142.9% in the 4th quarter. UBS Group AG now owns 241,143 shares of the company’s stock worth $6,390,000 after acquiring an additional 141,863 shares during the period. LSV Asset Management increased its position in shares of DXC Technology by 1.7% in the fourth quarter. LSV Asset Management now owns 3,397,268 shares of the company’s stock valued at $90,028,000 after buying an additional 55,270 shares in the last quarter. Swiss National Bank raised its stake in shares of DXC Technology by 1.5% during the 4th quarter. Swiss National Bank now owns 555,000 shares of the company’s stock worth $14,708,000 after buying an additional 8,000 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of DXC Technology by 45.7% in the 4th quarter. Russell Investments Group Ltd. now owns 166,901 shares of the company’s stock worth $4,424,000 after buying an additional 52,375 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in DXC Technology by 3.5% in the 4th quarter. Arizona State Retirement System now owns 64,866 shares of the company’s stock valued at $1,719,000 after acquiring an additional 2,178 shares during the last quarter. 89.19% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Stock Up 2.5 %

Shares of NYSE DXC opened at $24.44 on Monday. The stock has a market capitalization of $5.56 billion, a PE ratio of -9.47, a P/E/G ratio of 0.78 and a beta of 1.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $24.02 and a 200-day moving average of $26.64. DXC Technology has a 52-week low of $22.11 and a 52-week high of $36.00.

DXC Technology (NYSE:DXC – Get Rating) last posted its quarterly earnings results on Thursday, May 18th. The company reported $1.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.02. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.62 billion. DXC Technology had a positive return on equity of 16.23% and a negative net margin of 3.94%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. On average, analysts anticipate that DXC Technology will post 3.9 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on DXC. Royal Bank of Canada reduced their price target on shares of DXC Technology from $38.00 to $34.00 in a report on Friday. Stifel Nicolaus lowered their target price on DXC Technology from $30.00 to $25.00 in a report on Friday. BMO Capital Markets cut their price target on DXC Technology from $33.00 to $27.00 in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on DXC Technology from $48.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, February 2nd. Finally, TheStreet lowered shares of DXC Technology from a “b-” rating to a “c-” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.75.

DXC Technology Company Profile

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DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerate the digital transformations that are tailored to each client’s specific objectives.