DXC Technology (NYSE:DXC) Shares Sold by Verdad Advisers LP

Verdad Advisers LP lowered its stake in DXC Technology (NYSE:DXC) by 35.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,000 shares of the company’s stock after selling 30,000 shares during the period. DXC Technology accounts for 2.8% of Verdad Advisers LP’s holdings, making the stock its 16th biggest position. Verdad Advisers LP’s holdings in DXC Technology were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of DXC Technology during the fourth quarter worth $69,385,000. Franklin Resources Inc. increased its holdings in DXC Technology by 7.1% in the first quarter. Franklin Resources Inc. now owns 18,540,675 shares of the company’s stock valued at $473,900,000 after buying an additional 1,223,426 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in DXC Technology by 60.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,470,844 shares of the company’s stock valued at $65,477,000 after buying an additional 927,480 shares in the last quarter. Millennium Management LLC increased its holdings in DXC Technology by 993.5% in the second quarter. Millennium Management LLC now owns 682,855 shares of the company’s stock valued at $20,697,000 after buying an additional 620,408 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in DXC Technology by 28.7% in the fourth quarter. AQR Capital Management LLC now owns 2,690,928 shares of the company’s stock valued at $71,310,000 after buying an additional 600,507 shares in the last quarter. Hedge funds and other institutional investors own 88.09% of the company’s stock.

DXC Technology Trading Up 1.8 %

Shares of DXC Technology stock traded up $0.37 on Friday, reaching $21.11. The company had a trading volume of 2,084,039 shares, compared to its average volume of 1,919,225. The firm’s 50 day moving average price is $24.29 and its two-hundred day moving average price is $24.94. The firm has a market cap of $4.33 billion, a PE ratio of -7.43, a PEG ratio of 1.14 and a beta of 1.97. DXC Technology has a 52-week low of $18.61 and a 52-week high of $30.27. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.14.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.56 billion. DXC Technology had a negative net margin of 4.47% and a positive return on equity of 17.63%. DXC Technology’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. Sell-side analysts predict that DXC Technology will post 3.16 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP William L. Deckelman, Jr. sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $20.72, for a total transaction of $1,554,000.00. Following the sale, the executive vice president now directly owns 142,908 shares of the company’s stock, valued at approximately $2,961,053.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen reaffirmed a “market perform” rating and issued a $25.00 price objective (down previously from $34.00) on shares of DXC Technology in a report on Thursday, August 3rd. Stifel Nicolaus dropped their target price on shares of DXC Technology from $30.00 to $25.00 in a research report on Friday, May 19th. Citigroup lowered shares of DXC Technology from a “buy” rating to a “neutral” rating and dropped their target price for the company from $32.00 to $25.00 in a research report on Thursday, August 3rd. Deutsche Bank Aktiengesellschaft lowered shares of DXC Technology from a “buy” rating to a “hold” rating and dropped their target price for the company from $35.00 to $23.00 in a research report on Thursday, August 3rd. Finally, BMO Capital Markets lowered shares of DXC Technology from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $27.00 to $25.00 in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, DXC Technology has a consensus rating of “Hold” and an average price target of $26.64.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).