Boundary Creek Advisors LP increased its position in DXC Technology (NYSE: DXC – Get Rating ) stock by 20.2% during the third quarter, according to the company’s most recent 13F filing with the SEC. The company owns 845,267 shares of the company after purchasing an additional 141,799 shares during the quarter. DXC Technology accounts for about 0.6% of Boundary Creek Advisors LP’s portfolio, making the stock its ninth-largest holding. At the end of the most recent reporting period, Boundary Creek Advisors LP held an approximately 0.37% stake in DXC Technology worth $20,692,000.
Several other institutional investors and hedge funds also increased or decreased their stakes in the company. American Century raised its stake in DXC Technology by 52.2 percent in the first quarter. American Century now owns 80,959 shares of the company worth $2,641,000 after purchasing an additional 27,781 shares last quarter. Bancorp DE of the United States increased its stake in DXC Technology by 10.6% in the first quarter. US Bancorp DE now owns 20,835 shares of the company worth $681,000 after acquiring an additional 1,993 shares last quarter. HighTower Advisors LLC increased its position in DXC Technology by 11.7% in the first quarter. HighTower Advisors LLC now owns 8,776 shares of the company worth $284,000 after acquiring an additional 921 shares last quarter. Acadian Asset Management LLC increased its stake in DXC Technology by 432.5% in the first quarter. Acadian Asset Management LLC now owns 16,497 shares of the company worth $538,000 after buying an additional 13,399 shares last quarter. Finally, MetLife Investment Management LLC increased its stake in DXC Technology by 19.3% during the first quarter. MetLife Investment Management LLC now owns 66,501 shares of the company worth $2,170,000 after purchasing an additional 10,773 shares last quarter. Institutional investors hold 89.19% of the company’s shares.
insiders place bets
In other news, director Raul J. Fernandez sold 10,000 shares of company stock in a transaction that occurred 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 own 52,092 shares of company stock worth $1,530,983.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Raul J. Fernandez sold 10,000 shares of DXC Technology stock in a trade that occurred on Friday, November 11th. These shares sold at an average price of $29.39 for a total value of $293,900.00. Following the transaction, the directors now directly own 52,092 shares of the company, valued at approximately $1,530,983.88. The transaction is disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed at this link. Additionally, Director Raul J. Fernandez sold 5,000 shares of company stock in trading on Wednesday, November 23rd. The average selling price of these shares was $29.75, with 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 disclosure for this sale can be found here. Company insiders hold a 0.47% stake in the company.
Analyst promotion and downgrade
A number of research analysts have recently weighed in on the company. Susquehanna downgraded DXC Technology from a “positive” rating to a “neutral” rating and lowered their price target for the company from $39.00 to $31.00 in a report on Friday, September 16th. 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 report on Monday, November 7th. JPMorgan Chase & Co. raised shares of DXC Technology from an “underweight” rating to a “neutral” rating and raised their target price on the company from $31.00 to $33.00 in a research report on Thursday, December 15th. 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 report on Friday, November 4th. Finally, Susquehanna Bancshares downgraded DXC Technology to a “neutral” rating and lowered their price target for the company from $39.00 to $31.00 in a report on Friday, September 16th. One 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, DXC Technology currently has an average rating of “Hold” and an average target price of $35.09.
DXC Tech trades up 1.8%
NYSE: DXC opened Friday at $28.82. The company’s 50-day moving average is $27.88 and its 200-day moving average is $27.79. DXC Technology had a 12-month low of $22.65 and a 12-month high of $39.65. The market cap is $6.63 billion, with a P/E ratio of 9.39, a P/E ratio of 0.66, 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.
DXC Technology (NYSE: DXC – Get Rating ) last reported quarterly earnings on Thursday, November 3rd. The company reported EPS of $0.75 for the quarter, beating analysts’ consensus estimate of $0.72 by $0.03. The company’s revenue for the quarter was $3.57 billion, compared with analysts’ expectations of $3.56 billion. DXC Technology has a return on equity of 15.59% and a net profit margin of 4.93%. Sell-side analysts expect DXC Technology to report earnings of $3.49 per share this year.
DXC Technology Company Profile
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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