Raymond James & Associates Reduces Holdings in DXC Technology (NYSE:DXC)

Raymond James & Associates trimmed its position in shares of DXC Technology (NYSE:DXC) by 53.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 72,230 shares of the company’s stock after selling 82,387 shares during the quarter. Raymond James & Associates’ holdings in DXC Technology were worth $1,652,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of DXC. American Century Companies Inc. boosted its stake in DXC Technology by 52.2% during the first quarter. American Century Companies Inc. now owns 80,959 shares of the company’s stock worth $2,641,000 after buying an additional 27,781 shares during the period. US Bancorp DE boosted its stake 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 DXC Technology by 11.7% during the first quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock worth $284,000 after buying an additional 921 shares during the period. Acadian Asset Management LLC boosted its stake 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 buying an additional 13,399 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in DXC Technology by 19.3% during the first 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 during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DXC. Guggenheim began 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 for the company. Citigroup lowered shares of DXC Technology from a “neutral” rating to a “sell” rating and lowered their target price for the company from $24.00 to $21.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of DXC Technology in a research note on Friday, February 2nd. Finally, JPMorgan Chase & Co. lowered shares of 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. Three analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.20.

Insider Activity at DXC Technology

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the completion of the sale, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at $2,712,034.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.87% of the stock is currently owned by corporate insiders.

DXC Technology Stock Performance

DXC stock opened at $19.58 on Friday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50-day moving average price of $21.02 and a 200 day moving average price of $21.93. The company has a market capitalization of $3.58 billion, a P/E ratio of -10.25, a PEG ratio of 1.79 and a beta of 1.85. DXC Technology has a 1-year low of $18.61 and a 1-year high of $28.89.

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

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).