Equitable Trust Co. Buys 1,045 Shares of DXC Technology (NYSE:DXC)

Equitable Trust Co. boosted its stake in shares of DXC Technology (NYSE:DXC) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,288 shares of the company’s stock after acquiring an additional 1,045 shares during the quarter. Equitable Trust Co.’s holdings in DXC Technology were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DXC. Quarry LP bought a new position in shares of DXC Technology in the 2nd quarter valued at about $25,000. Belpointe Asset Management LLC raised its position in shares of DXC Technology by 656.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock valued at $29,000 after acquiring an additional 998 shares during the period. Lazard Asset Management LLC raised its position in shares of DXC Technology by 163.0% in the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company’s stock valued at $34,000 after acquiring an additional 815 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of DXC Technology in the 2nd quarter valued at approximately $41,000. Finally, Versant Capital Management Inc raised its position in shares of DXC Technology by 3,525.9% in the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock valued at $48,000 after acquiring an additional 2,045 shares during the period. Institutional investors own 96.20% of the company’s stock.

Insider Buying and Selling

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now directly owns 124,806 shares in the company, valued at $2,712,034.38. The sale was disclosed in a filing with the SEC, which is available through this link. 0.87% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DXC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Citigroup lowered shares of DXC Technology from a “neutral” rating to a “sell” rating and cut their price target for the company from $24.00 to $21.00 in a research note on Wednesday, January 17th. Guggenheim assumed coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered shares of DXC Technology from a “neutral” rating to an “underweight” rating and cut their price target for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, DXC Technology presently has a consensus rating of “Hold” and an average target price of $23.20.

DXC Technology Stock Performance

Shares of DXC stock opened at $20.87 on Tuesday. The company’s fifty day simple moving average is $21.21 and its 200-day simple moving average is $21.95. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. DXC Technology has a 12 month low of $18.61 and a 12 month high of $28.89.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.10. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.

About DXC Technology

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).