Pacer Advisors Inc. boosted its position in DXC Technology (NYSE:DXC – Free Report) by 36.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,019,664 shares of the company’s stock after buying an additional 812,032 shares during the period. Pacer Advisors Inc. owned approximately 1.43% of DXC Technology worth $80,685,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DXC. North Star Investment Management Corp. increased its position in DXC Technology by 3,054.8% in the 1st quarter. North Star Investment Management Corp. now owns 978 shares of the company’s stock valued at $25,000 after buying an additional 947 shares in the last quarter. Cornerstone Management Inc. bought a new stake in DXC Technology in the 1st quarter valued at about $27,000. Belpointe Asset Management LLC increased its holdings in DXC Technology by 656.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock worth $29,000 after purchasing an additional 998 shares in the last quarter. Lindbrook Capital LLC increased its holdings in DXC Technology by 186.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,283 shares of the company’s stock worth $33,000 after purchasing an additional 835 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in DXC Technology by 163.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company’s stock worth $34,000 after purchasing an additional 815 shares in the last quarter. 88.09% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
DXC has been the subject of a number of recent research reports. BMO Capital Markets lowered DXC Technology from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $27.00 to $25.00 in a report on Thursday, August 3rd. TD Cowen reissued a “market perform” rating and set a $25.00 price objective (down from $34.00) on shares of DXC Technology in a report on Thursday, August 3rd. Morgan Stanley decreased their price objective on DXC Technology from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Royal Bank of Canada lowered DXC Technology from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $34.00 to $29.00 in a report on Thursday, August 3rd. Finally, Citigroup lowered DXC Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $32.00 to $25.00 in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $25.67.
Insiders Place Their Bets
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 75,000 shares of the stock in a transaction on Thursday, August 24th. The stock was 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 owns 142,908 shares in the company, valued at $2,961,053.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.87% of the company’s stock.
DXC Technology Price Performance
DXC Technology stock traded up $0.32 during trading on Tuesday, hitting $20.59. The stock had a trading volume of 488,422 shares, compared to its average volume of 1,988,603. DXC Technology has a 1 year low of $18.61 and a 1 year high of $30.27. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50 day moving average is $22.96 and its two-hundred day moving average is $24.32.
DXC Technology (NYSE:DXC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.19). The firm 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 for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. Analysts predict that DXC Technology will post 3.16 earnings per share for the current fiscal year.
DXC Technology Company 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).
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