Citigroup Inc. lifted its stake in shares of DXC Technology (NYSE:DXC – Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,218 shares of the company’s stock after buying an additional 3,501 shares during the quarter. Citigroup Inc. owned about 0.07% of DXC Technology worth $4,197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in DXC. American Century Companies Inc. increased its holdings in shares of DXC Technology by 52.2% during the first quarter. American Century Companies Inc. now owns 80,959 shares of the company’s stock valued at $2,641,000 after acquiring an additional 27,781 shares in the last quarter. US Bancorp DE increased its position in 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 buying an additional 1,993 shares during the period. 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 buying an additional 921 shares in the last quarter. Acadian Asset Management LLC boosted its position in DXC Technology by 432.5% during the first quarter. Acadian Asset Management LLC now owns 16,497 shares of the company’s stock worth $538,000 after purchasing an additional 13,399 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in DXC Technology by 19.3% in the first quarter. MetLife Investment Management LLC now owns 66,501 shares of the company’s stock valued at $2,170,000 after purchasing an additional 10,773 shares during the last quarter. Institutional investors own 88.09% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Citigroup cut DXC Technology from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $25.00 in a research report on Thursday, August 3rd. TheStreet downgraded DXC Technology from a “b-” rating to a “c-” rating in a report on Thursday, May 18th. TD Cowen reiterated a “market perform” rating and set a $25.00 target price (down previously from $34.00) on shares of DXC Technology in a report on Thursday, August 3rd. Stifel Nicolaus cut their price objective on shares of DXC Technology from $30.00 to $25.00 in a research report on Friday, May 19th. Finally, Morgan Stanley decreased their target price on shares of DXC Technology from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.64.
DXC Technology Stock Up 1.8 %
DXC stock opened at $21.11 on Monday. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of -7.43, a PEG ratio of 1.14 and a beta of 1.97. DXC Technology has a fifty-two week low of $18.61 and a fifty-two week high of $30.27. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.14 and a current ratio of 1.14. The company’s 50 day moving average price is $24.29 and its 200 day moving average price is $24.94.
DXC Technology (NYSE:DXC – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). DXC Technology had a negative net margin of 4.47% and a positive return on equity of 17.63%. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period last year, the business posted $0.75 EPS. DXC Technology’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that DXC Technology will post 3.16 EPS for the current fiscal year.
Insider Transactions at DXC Technology
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 75,000 shares of DXC Technology stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $20.72, for a total transaction of $1,554,000.00. Following the completion of the transaction, the executive vice president now directly owns 142,908 shares of the company’s stock, valued at $2,961,053.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.
DXC Technology Profile
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).
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