ProShare Advisors LLC increased its stake in DXC Technology (NYSE: DXC – Get Rating ) by 59.9% during the third quarter, according to the company’s most recent disclosure to the SEC. The fund owns 84,444 shares of the company after purchasing an additional 31,618 shares during the quarter. At the end of the most recent reporting period, ProShare Advisors LLC’s holding in DXC Technology was valued at $2,068,000.
→ Cash holders are still not taking steps to prepare (From Investor Square Media)
Other hedge funds and other institutional investors have also adjusted their stakes in the company recently. Victory Capital Management increased its stake in DXC Technology by 13.4% in the third quarter. Victory Capital Management now owns 9,285,409 shares of the company worth $227,306,000 after purchasing an additional 1,096,344 shares last quarter. Glenview Capital Management LLC increased its stake in DXC Technology by 5.0% in the second quarter. Glenview Capital Management LLC now owns 7,923,704 shares of the company worth $240,167,000 after acquiring an additional 374,693 shares in the previous quarter. Clearbridge Investments LLC increased its stake in DXC Technology by 1.0% during the second quarter. Clearbridge Investments LLC now owns 4,946,064 shares of the company worth $149,915,000 after acquiring an additional 50,967 shares during the period. Atlantis Life Insurance Company Can purchased a new position in DXC Technology stock worth approximately $79,186,000 during the third quarter. Finally, Pacer Advisors Inc. increased its stake in DXC Technology by 52.6% in the third quarter. Pacers Advisors now owns 1,857,895 shares of the company worth $45,481,000 after acquiring an additional 640,276 shares last quarter. 89.19% of the shares are currently held by hedge funds and other institutional investors.
Analyst sets new price target
DXC has been the subject of many recent research reports. Moffett Nathanson downgraded shares of DXC Technology from a “market perform” rating to an “underperform” rating and lowered their price target for the stock from $32.00 to $28.00 in a research note on Thursday, January 19th. BMO Capital Markets cut their price target on DXC Technology from $36.00 to $33.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Royal Bank of Canada upped their price target on shares of DXC Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. Morgan Stanley cut their price target on DXC Technology from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. We upgraded shares of DXC Technology from an “underweight” rating to a “neutral” rating and raised their target price on the stock from $31.00 to $33.00 in a report on Thursday, December 15th. Two research analysts have 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, the company currently has an average rating of “Hold” and an average price target of $34.25.
DXC Technology’s internal activities
In other DXC Technology 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 completion of the sale, the directors now own 47,092 shares of the company, valued at approximately $1,400,987. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. In other news, Director Raul J. Fernandez sold 10,000 shares of company stock in trading on Friday, November 11. These shares sold at an average price of $29.39 for a total value of $293,900.00. Following the sale, the directors now directly own 52,092 shares of the company, worth approximately $1,530,983.88. The transaction has been disclosed in a legal filing with the U.S. Securities and Exchange Commission, which can be accessed via this hyperlink. Additionally, Director Raul J. Fernandez sold 5,000 shares of company stock in trading on Wednesday, November 23rd. The stock sold at an average price of $29.75 for a total transaction value of $148,750.00. Following the transaction, the director now directly owns 47,092 shares of the company, worth approximately $1,400,987. The disclosure for this sale can be found here. 0.47% of shares are owned by insiders.
DXC Tech trades up 2.2 percent
DXC Technology stock opened Wednesday at $28.73. DXC Technology had a one-year low of $22.65 and a one-year high of $39.65. The market cap is $6.61 billion, with a P/E ratio of 9.36, a P/E ratio of 0.67, and a beta of 1.92. The company’s debt-to-equity ratio is 0.75, the quick ratio is 1.14, and the current ratio is 1.14. The stock has a 50-day moving average of $27.84 and a 200-day moving average of $27.65.
DXC Technology (NYSE: DXC – Get Rating ) last reported quarterly earnings on Thursday, November 3rd. The company reported earnings per share (EPS) of $0.75 for the quarter, beating analysts’ consensus estimate of $0.72 by $0.03. The business brought in $3.57 billion in revenue for the quarter, compared with analyst estimates of $3.56 billion. DXC Technology has a net profit margin of 4.93% and a return on equity of 15.59%. On average, research analysts expect DXC Technology to post EPS of 3.48 for the fiscal year.
About DXC Technology
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DXC Technology Co provides technical consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerate digital transformation tailored to each client’s specific goals.
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