Russell Investments Group Ltd. Has $23.89 Million Stock Position in DXC Technology (NYSE:DXC)

Russell Investments Group Ltd. increased its stake in shares of DXC Technology (NYSE:DXC) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,044,398 shares of the company’s stock after purchasing an additional 41,468 shares during the quarter. Russell Investments Group Ltd. owned about 0.54% of DXC Technology worth $23,886,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DXC. Versant Capital Management Inc grew its holdings in DXC Technology by 3,525.9% during the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,045 shares during the period. GAMMA Investing LLC bought a new position in DXC Technology during the fourth quarter worth about $49,000. Headlands Technologies LLC acquired a new position in shares of DXC Technology during the 3rd quarter worth about $67,000. NBC Securities Inc. bought a new stake in shares of DXC Technology in the 3rd quarter valued at about $94,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of DXC Technology in the 3rd quarter valued at about $197,000. 96.20% of the stock is owned by institutional investors and hedge funds.

DXC Technology Stock Performance

NYSE:DXC opened at $18.99 on Thursday. The stock’s 50-day moving average is $20.79 and its 200-day moving average is $21.86. The stock has a market cap of $3.47 billion, a P/E ratio of -9.94, a price-to-earnings-growth ratio of 1.82 and a beta of 1.85. DXC Technology has a 1-year low of $18.61 and a 1-year high of $28.89. 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 (NYSE:DXC) last posted 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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 EPS. Equities research analysts anticipate that DXC Technology will post 3.03 earnings per share for the current year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

DXC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered DXC Technology from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $27.00 to $24.00 in a research report on Wednesday, January 24th. 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 report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of DXC Technology in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, DXC Technology has a consensus rating of “Hold” and a consensus target price 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).