Covestor Ltd Has $722,000 Stake in DXC Technology (NYSE:DXC)

Covestor Ltd raised its position in shares of DXC Technology (NYSE:DXC) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,019 shares of the company’s stock after buying an additional 642 shares during the quarter. DXC Technology comprises about 0.5% of Covestor Ltd’s investment portfolio, making the stock its 8th largest holding. Covestor Ltd’s holdings in DXC Technology were worth $722,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DXC. JPMorgan Chase & Co. grew its stake in DXC Technology by 281.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,599,633 shares of the company’s stock worth $42,742,000 after buying an additional 1,180,014 shares during the last quarter. Penserra Capital Management LLC purchased a new stake in shares of DXC Technology during the second quarter worth about $39,000. William Blair Investment Management LLC increased its holdings in shares of DXC Technology by 18.7% during the second quarter. William Blair Investment Management LLC now owns 9,942 shares of the company’s stock valued at $266,000 after acquiring an additional 1,567 shares in the last quarter. Osaic Holdings Inc. raised its position in shares of DXC Technology by 17.1% in the 2nd quarter. Osaic Holdings Inc. now owns 45,815 shares of the company’s stock valued at $929,000 after purchasing an additional 6,694 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in shares of DXC Technology by 1.5% in the second quarter. Great West Life Assurance Co. Can now owns 3,099,257 shares of the company’s stock worth $83,340,000 after buying an additional 46,850 shares during the last quarter. 88.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DXC has been the topic of several research analyst reports. TD Cowen reiterated a “market perform” rating and set a $25.00 price target (down previously from $34.00) on shares of DXC Technology in a research note on Thursday, August 3rd. Morgan Stanley cut their price target on shares of DXC Technology from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, August 4th. JPMorgan Chase & Co. decreased their price objective on shares of DXC Technology from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, August 22nd. Wolfe Research reiterated an “underperform” rating and issued a $22.00 price objective on shares of DXC Technology in a research note on Tuesday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of DXC Technology from a “buy” rating to a “hold” rating and decreased their target price for the company from $35.00 to $23.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.60.

Insider Transactions at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 75,000 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $20.72, for a total value of $1,554,000.00. Following the completion of the sale, the executive vice president now 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 hyperlink. Corporate insiders own 0.87% of the company’s stock.

DXC Technology Price Performance

Shares of DXC Technology stock traded down $0.15 during trading hours on Tuesday, reaching $22.85. The stock had a trading volume of 806,114 shares, compared to its average volume of 2,346,884. The stock’s 50 day moving average is $21.10 and its 200 day moving average is $23.22. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.09. DXC Technology has a twelve month low of $18.61 and a twelve month high of $30.27. The firm has a market capitalization of $4.42 billion, a PE ratio of -9.31, a PEG ratio of 1.10 and a beta of 1.89.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Wednesday, November 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.44 billion during the quarter, compared to analysts’ expectations of $3.44 billion. DXC Technology had a positive return on equity of 18.48% and a negative net margin of 4.00%. DXC Technology’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Equities analysts expect that DXC Technology will post 3.17 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).