Comerica Bank reduced its position in DXC Technology (NYSE: DXC – Get Rating ) stock by 9.8% during the third quarter, according to the company’s most recent Form 13F filing with the SEC. The company owns 95,073 shares of the company’s stock after selling 10,286 shares during the period. At the end of the most recent quarter, Comerica Bank’s holding in DXC Technology was valued at $2,736,000.
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A number of other hedge funds have also bought and sold the company’s shares recently. Lapides Asset Management LLC increased its stake in DXC Technology by 35.8 percent in the third quarter. During the period, Lapides Asset Management LLC now owns 182,500 shares of the company worth $4,468,000 after acquiring an additional 48,100 shares. CWM LLC increased its position in DXC Technology stock by 28.6% in the third quarter. CWM LLC now owns 2,687 shares of the company worth $66,000 after buying an additional 598 shares during that time. Robeco Institutional Asset Management BV boosted its stake in DXC Technology by 10.5 percent in the third quarter. Robeco Institutional Asset Management BV now owns 527,167 shares of the company worth $12,907,000 after purchasing an additional 50,256 shares during this period. Strs Ohio took a new position in DXC Technology stock worth $834,000 during the third quarter. Finally, Arnhold LLC increased its position in DXC Technology stock by 1.4% during the third quarter. Arnhold LLC now owns 578,826 shares of the company worth $14,170,000 after purchasing an additional 7,907 shares during that period. 89.19% of shares are held by institutional investors and hedge funds.
DXC Tech trades up 1.0%
DXC shares opened Wednesday at $29.10 on the New York Stock Exchange. DXC Technology had a one-year low of $22.65 and a one-year high of $39.65. The company has a market cap of $6.69 billion, a P/E ratio of 9.48, a PEG ratio of 0.68, and a beta of 1.92. The company has a current ratio of 1.14, a quick ratio of 1.14, and a debt-to-equity ratio of 0.75. The company’s 50-day moving average is $27.91 and its 200-day moving average is $27.71.
DXC Technology (NYSE: DXC – Get Rating ) last reported quarterly earnings data on Thursday, November 3rd. The company reported EPS of $0.75 for the quarter, beating analysts’ consensus estimate of $0.72 by $0.03. DXC Technology has a return on equity of 15.59% and a net profit margin of 4.93%. The company’s revenue for the quarter was $3.57 billion, compared with analyst estimates of $3.56 billion. As a group, analysts expect DXC Technology to post EPS of 3.49 for the fiscal year.
In other news, Director Raul J. Fernandez sold 5,000 shares of DXC Technology stock in a trade dated Wednesday, November 23rd. The stock sold at an average price of $29.75 for a total transaction value of $148,750.00. Following the sale, the directors now directly own 47,092 shares of the company, worth approximately $1,400,987. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this link. In other news, Director Raul J. Fernandez sold 5,000 shares of DXC Technology stock in a trade dated Wednesday, November 23rd. The stock sold at an average price of $29.75 for a total transaction value of $148,750.00. Following the sale, the directors now directly own 47,092 shares of the company, worth approximately $1,400,987. The sale was disclosed in a filing with the Securities and Exchange Commission, which can be accessed at this link. Additionally, Director Raul J. Fernandez sold 10,000 shares of DXC Technology stock in a trade dated Friday, November 11th. These shares sold at an average price of $29.39 for a total value of $293,900.00. Following the sale, the directors now own 52,092 shares of company stock worth $1,530,983.88. The disclosure for this sale can be found here. Company insiders own 0.47% of the stock.
Analyst Promotions and Demotions
Several equity analysts have recently weighed in on the company. Royal Bank of Canada upped their price target on DXC Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. JP Morgan Chase & Co. upgraded DXC Technology from an “underweight” rating to a “neutral” rating and raised their price target for the company from $31.00 to $33.00 in a research report on Thursday, December 15th. Finally, BMO Capital Markets cut their price target on DXC Technology from $36.00 to $33.00 and set an “outperform” rating on the company in a research report on Friday, November 4th. One equity research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $35.09.
Introduction to DXC Technology
DXC Technology Company and its subsidiaries provide information technology services and solutions primarily in North America, Europe, Asia and Australia. It is divided into two parts: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a range of analytics services and an extensive partner ecosystem to help its clients gain rapid insights, automate operations and accelerate their digital transformation journeys; as well as software engineering, consulting and data analytics solutions that enable businesses to run and manage its mission-critical functions, transform the way it operates, and develop new ways of doing business.
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