Strs Ohio Purchases New Shares in DXC Technology (NYSE:DXC)

Strs Ohio purchased a new stake in shares of DXC Technology (NYSE:DXC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 45,262 shares of the company’s stock, valued at approximately $1,035,000.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of DXC Technology by 3,525.9% in the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after buying an additional 2,045 shares during the last quarter. Headlands Technologies LLC acquired a new position in DXC Technology during the 3rd quarter valued at about $67,000. NBC Securities Inc. acquired a new position in DXC Technology during the 3rd quarter valued at about $94,000. CWM LLC increased its stake in DXC Technology by 108.4% during the 3rd quarter. CWM LLC now owns 6,952 shares of the company’s stock valued at $145,000 after buying an additional 3,616 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in DXC Technology during the 3rd quarter valued at about $197,000. 96.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of DXC Technology stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the transaction, the executive vice president now 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 available at the SEC website. Insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

DXC has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $27.00 to $24.00 in a research note on Wednesday, January 24th. Citigroup cut shares of DXC Technology from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $24.00 to $21.00 in a report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of DXC Technology in a report on Friday, February 2nd. Finally, Guggenheim initiated coverage on shares of DXC Technology in a report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, DXC Technology currently has an average rating of “Hold” and a consensus target price of $23.20.

DXC Technology Price Performance

NYSE DXC opened at $21.16 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $3.87 billion, a PE ratio of -11.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.85. The company has a 50 day moving average price of $20.94 and a two-hundred day moving average price of $21.93. DXC Technology has a 12-month low of $18.61 and a 12-month high of $28.89.

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

DXC Technology Company 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).