CENTRAL TRUST Co Cuts Stake in DXC Technology (NYSE:DXC)

CENTRAL TRUST Co trimmed its stake in DXC Technology (NYSE:DXC) by 67.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,750 shares of the company’s stock after selling 3,600 shares during the quarter. CENTRAL TRUST Co’s holdings in DXC Technology were worth $40,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DXC. American Century Companies Inc. lifted its position in DXC Technology by 52.2% during the 1st quarter. American Century Companies Inc. now owns 80,959 shares of the company’s stock worth $2,641,000 after acquiring an additional 27,781 shares in the last quarter. US Bancorp DE lifted its position in shares of DXC Technology by 10.6% during the first quarter. US Bancorp DE now owns 20,835 shares of the company’s stock worth $681,000 after purchasing an additional 1,993 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of DXC Technology by 11.7% in the first quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock valued at $284,000 after purchasing an additional 921 shares during the period. Acadian Asset Management LLC grew its holdings in DXC Technology by 432.5% during the 1st quarter. Acadian Asset Management LLC now owns 16,497 shares of the company’s stock valued at $538,000 after purchasing an additional 13,399 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in DXC Technology by 19.3% in the 1st quarter. MetLife Investment Management LLC now owns 66,501 shares of the company’s stock worth $2,170,000 after buying an additional 10,773 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of DXC Technology stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the completion of the sale, the executive vice president now owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

DXC Technology Stock Up 5.9 %

Shares of DXC Technology stock opened at $22.10 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. DXC Technology has a 1 year low of $18.61 and a 1 year high of $28.89. The stock has a 50-day moving average price of $21.20 and a 200 day moving average price of $21.96. The company has a market cap of $4.04 billion, a P/E ratio of -11.57, a P/E/G ratio of 1.83 and a beta of 1.85.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts expect that DXC Technology will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DXC has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. Guggenheim initiated coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price objective on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of DXC Technology in a research report on Friday, February 2nd. Finally, Citigroup downgraded DXC Technology from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $23.20.

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).