Skandinaviska Enskilda Banken AB publ Makes New Investment in DXC Technology Company. (NYSE:DXC)

Key Points

• Skandinaviska Enskilda Banken AB has acquired 45,700 shares of DXC Technology, valued at approximately $779,000, as noted in a recent SEC filing.
• Several institutional investors have recently increased their stakes in DXC Technology, including Allspring Global Investments Holdings LLC, which grew its position by 323.4% in the first quarter.
• DXC Technology's stock has a market capitalization of $2.56 billion and has recently seen price targets lowered by multiple analysts, with an average target price now at $17.00.

Skandinaviska Enskilda Banken AB publ bought a new position in DXC Technology Company. (NYSE:DXC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 45,700 shares of the company's stock, valued at approximately $779,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Byrne Asset Management LLC acquired a new stake in shares of DXC Technology during the 1st quarter worth approximately $33,000. Meeder Asset Management Inc. acquired a new stake in shares of DXC Technology during the 4th quarter worth approximately $55,000. Wealthquest Corp acquired a new stake in shares of DXC Technology during the 1st quarter worth approximately $49,000. Quarry LP raised its position in shares of DXC Technology by 604.1% during the 4th quarter. Quarry LP now owns 3,978 shares of the company's stock worth $79,000 after purchasing an additional 3,413 shares during the period. Finally, GAMMA Investing LLC increased its position in DXC Technology by 37.4% in the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock valued at $77,000 after acquiring an additional 1,226 shares during the period. Hedge funds and other institutional investors own 96.20% of the company's stock.

DXC Technology Stock Performance

DXC stock traded down $0.74 during trading on Friday, reaching $12.87. 5,093,379 shares of the stock were exchanged, compared to its average volume of 1,757,800. DXC Technology Company. has a twelve month low of $12.24 and a twelve month high of $24.83. The company has a market capitalization of $2.33 billion, a P/E ratio of 6.10 and a beta of 1.20. The stock has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $16.79. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.06 billion. DXC Technology had a return on equity of 19.36% and a net margin of 3.02%. The company's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, sell-side analysts anticipate that DXC Technology Company. will post 3.35 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on DXC shares. Guggenheim restated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Wall Street Zen upgraded DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. BMO Capital Markets lowered their target price on DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research report on Thursday, May 15th. Royal Bank Of Canada lowered their target price on DXC Technology from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price target on 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, DXC Technology presently has a consensus rating of "Hold" and a consensus price target of $16.40.

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).