Lazard Asset Management LLC Makes New $67,000 Investment in DXC Technology (NYSE:DXC)

Lazard Asset Management LLC bought a new position in shares of DXC Technology (NYSE:DXCGet Rating) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,228 shares of the company’s stock, valued at approximately $67,000.

A number of other large investors also recently bought and sold shares of the company. Clifford Capital Partners LLC bought a new position in DXC Technology during the 2nd quarter worth approximately $8,808,000. Stanley Laman Group Ltd. lifted its holdings in DXC Technology by 12.1% during the 2nd quarter. Stanley Laman Group Ltd. now owns 84,199 shares of the company’s stock worth $2,552,000 after buying an additional 9,080 shares during the last quarter. Metis Global Partners LLC lifted its holdings in DXC Technology by 97.7% during the 2nd quarter. Metis Global Partners LLC now owns 21,312 shares of the company’s stock worth $645,000 after buying an additional 10,533 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in DXC Technology during the 2nd quarter worth approximately $375,000. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in DXC Technology by 15.8% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,353 shares of the company’s stock worth $253,000 after buying an additional 1,137 shares during the last quarter. Institutional investors own 87.01% of the company’s stock.

DXC Technology Stock Up 0.2 %

DXC opened at $29.61 on Friday. DXC Technology has a 12 month low of $22.65 and a 12 month high of $39.65. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $6.81 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.69 and a beta of 1.95. The stock’s 50 day moving average price is $27.57 and its 200 day moving average price is $28.78.

DXC Technology (NYSE:DXCGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. DXC Technology had a return on equity of 15.59% and a net margin of 4.93%. The company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.56 billion. As a group, research analysts predict that DXC Technology will post 3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DXC shares. Susquehanna Bancshares downgraded DXC Technology to a “neutral” rating and cut their price target for the stock from $39.00 to $31.00 in a report on Friday, September 16th. Cowen cut their price target on DXC Technology from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Monday, August 15th. Royal Bank of Canada raised their price target on DXC Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, November 7th. Citigroup cut their price target on DXC Technology from $40.00 to $38.00 in a report on Thursday, August 4th. Finally, Susquehanna downgraded DXC Technology from a “positive” rating to a “neutral” rating and cut their price target for the stock from $39.00 to $31.00 in a report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.91.

Insider Activity

In other news, Director Raul J. Fernandez sold 10,000 shares of DXC Technology stock in a transaction on Friday, November 11th. The stock was sold at an average price of $29.39, for a total transaction of $293,900.00. Following the transaction, the director now directly owns 52,092 shares in the company, valued at approximately $1,530,983.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

About DXC Technology

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DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering, consulting, and data analytics solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

See Also

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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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