Cerity Partners LLC Invests $242,000 in DXC Technology (NYSE:DXC)

Cerity Partners LLC purchased a new position in shares of DXC Technology (NYSE:DXC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,579 shares of the company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its holdings in shares of DXC Technology by 388.6% during the 4th quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after acquiring an additional 94,748 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of DXC Technology by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock worth $62,342,000 after acquiring an additional 8,235 shares during the period. PNC Financial Services Group Inc. increased its position in DXC Technology by 9.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 63,800 shares of the company’s stock worth $1,329,000 after purchasing an additional 5,735 shares in the last quarter. SG Americas Securities LLC increased its position in DXC Technology by 165.1% during the 4th quarter. SG Americas Securities LLC now owns 82,550 shares of the company’s stock worth $1,888,000 after purchasing an additional 51,409 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in DXC Technology by 338.4% during the 3rd quarter. Schroder Investment Management Group now owns 434,204 shares of the company’s stock worth $9,044,000 after purchasing an additional 335,161 shares in the last quarter. Institutional investors own 96.20% of the company’s stock.

Insider Transactions at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction on 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 in the company, valued at $2,712,034.38. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.87% of the stock is currently owned by corporate insiders.

DXC Technology Trading Down 1.4 %

Shares of NYSE DXC opened at $20.08 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. DXC Technology has a 52-week low of $18.61 and a 52-week high of $28.89. The firm has a 50 day moving average price of $20.85 and a two-hundred day moving average price of $21.89. The stock has a market cap of $3.67 billion, a P/E ratio of -10.51, a price-to-earnings-growth ratio of 1.81 and a beta of 1.85.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company posted $0.95 EPS. The company’s revenue was down 4.7% on a year-over-year basis. As a group, equities analysts forecast that DXC Technology will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DXC. 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 report on Wednesday, January 24th. Citigroup cut shares of DXC Technology from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $24.00 to $21.00 in a research report on Wednesday, January 17th. Guggenheim began coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price objective for the company. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of DXC Technology in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.20.

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).