Raymond James & Associates Cuts Stock Position in DXC Technology (NYSE:DXC)

Raymond James & Associates decreased its holdings in shares of DXC Technology (NYSE:DXC – Get Rating) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,666 shares of the company’s stock after selling 1,513 shares during the period. Raymond James & Associates owned about 0.10% of DXC Technology worth $5,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in shares of DXC Technology by 39.1% in the third quarter. Marshall Wace LLP now owns 246,049 shares of the company’s stock valued at $6,022,000 after purchasing an additional 69,183 shares during the period. River & Mercantile Asset Management LLP acquired a new position in shares of DXC Technology during the third quarter valued at approximately $1,849,000. California Public Employees Retirement System boosted its stake in shares of DXC Technology by 17.0% in the third quarter. California Public Employees Retirement System now owns 544,629 shares of the company’s stock worth $13,333,000 after acquiring an additional 79,152 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of DXC Technology by 29.0% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 89,393 shares of the company’s stock worth $2,474,000 after purchasing an additional 20,113 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in DXC Technology by 27.4% in the 3rd quarter. Prudential Financial Inc. now owns 468,883 shares of the company’s stock valued at $13,629,000 after purchasing an additional 100,821 shares in the last quarter. Institutional investors and hedge funds own 89.19% of the company’s stock.

Analyst Upgrades and Downgrades

DXC has been the subject of a number of research reports. Stifel Nicolaus dropped their target price on shares of DXC Technology from $30.00 to $25.00 in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of DXC Technology from $48.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 2nd. BMO Capital Markets decreased their target price on shares of DXC Technology from $33.00 to $27.00 in a report on Friday. Morgan Stanley lowered their price target on DXC Technology from $27.00 to $25.00 in a research report on Friday. Finally, Royal Bank of Canada cut their price objective on DXC Technology from $38.00 to $34.00 in a report on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.75.

DXC Technology Stock Up 2.5 %

DXC stock opened at $24.44 on Monday. The company’s 50 day moving average price is $24.02 and its 200 day moving average price is $26.64. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of -9.47, a PEG ratio of 0.78 and a beta of 1.94. DXC Technology has a fifty-two week low of $22.11 and a fifty-two week high of $36.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.13 and a current ratio of 1.13.

DXC Technology (NYSE:DXC – Get Rating) last released its quarterly earnings data on Thursday, May 18th. The company reported $1.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.02. DXC Technology had a negative net margin of 3.94% and a positive return on equity of 16.23%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.62 billion. During the same period in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities research analysts anticipate that DXC Technology will post 3.9 EPS for the current fiscal year.

DXC Technology Company Profile

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DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerate the digital transformations that are tailored to each client’s specific objectives.