Millennium Management LLC Buys 58,576 Shares of DXC Technology (NYSE:DXC)

Millennium Management LLC raised its stake in DXC Technology (NYSE:DXC) by 195.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 88,556 shares of the company’s stock after acquiring an additional 58,576 shares during the period. Millennium Management LLC’s holdings in DXC Technology were worth $1,769,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in DXC Technology by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 23,634,617 shares of the company’s stock valued at $472,220,000 after purchasing an additional 270,206 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of DXC Technology by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 10,436,557 shares of the company’s stock worth $208,524,000 after buying an additional 378,338 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of DXC Technology by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,816,970 shares of the company’s stock valued at $116,223,000 after buying an additional 907,004 shares during the last quarter. LSV Asset Management raised its holdings in DXC Technology by 0.9% in the 4th quarter. LSV Asset Management now owns 3,382,372 shares of the company’s stock worth $67,580,000 after acquiring an additional 31,263 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in DXC Technology by 43.8% in the 4th quarter. AQR Capital Management LLC now owns 1,943,649 shares of the company’s stock valued at $38,834,000 after acquiring an additional 591,841 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DXC has been the subject of a number of research analyst reports. Guggenheim reissued a “neutral” rating on shares of DXC Technology in a report on Monday, May 12th. BMO Capital Markets reduced their price objective on DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, May 15th. Susquehanna decreased their target price on DXC Technology from $23.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of DXC Technology from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $17.00.

DXC Technology Stock Down 2.7%

DXC Technology stock opened at $14.79 on Tuesday. DXC Technology has a one year low of $13.44 and a one year high of $24.83. The stock has a fifty day moving average of $15.45 and a 200 day moving average of $18.55. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $2.68 billion, a PE ratio of -35.21, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts predict that DXC Technology will post 3.35 EPS for the current year.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions 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).