Access Investment Management LLC Cuts Holdings in DXC Technology Company. $DXC

Key Points

• Access Investment Management cut its DXC Technology stake by 21.6% in the second quarter, selling 107,670 shares and retaining 390,000 shares valued at approximately $3.45 million.
• Analysts remain cautious: DXC has a consensus rating of “Reduce”, with seven Hold ratings and three Sell ratings, and an average price target of $12.44.
• DXC reported quarterly revenue of about $3 billion, slightly above estimates, but earnings per share of $0.40 missed expectations and revenue declined 5% year over year.

Access Investment Management LLC lowered its stake in DXC Technology Company. (NYSE:DXC - Free Report) by 21.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,000 shares of the company's stock after selling 107,670 shares during the period. Access Investment Management LLC owned about 0.24% of DXC Technology worth $3,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its stake in DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company's stock valued at $27,000 after purchasing an additional 1,227 shares during the last quarter. Danske Bank A S raised its holdings in DXC Technology by 280.0% during the fourth quarter. Danske Bank A S now owns 1,900 shares of the company's stock worth $28,000 after purchasing an additional 1,400 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of DXC Technology by 116.0% during the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company's stock worth $31,000 after buying an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of DXC Technology by 110.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company's stock worth $32,000 after buying an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of DXC Technology by 13,258.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company's stock valued at $33,000 after buying an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank Of Canada dropped their target price on shares of DXC Technology from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research report on Friday, July 31st. TD Cowen upped their price objective on shares of DXC Technology from $10.00 to $12.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. BMO Capital Markets dropped their price objective on DXC Technology from $17.00 to $10.00 and set a "market perform" rating on the stock in a report on Monday, May 11th. Stifel Nicolaus cut their target price on DXC Technology from $12.00 to $10.50 and set a "hold" rating on the stock in a research report on Friday, July 31st. Finally, Morgan Stanley set a $12.00 target price on DXC Technology in a research report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $12.44.

DXC Technology Stock Performance

Shares of DXC opened at $10.79 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41. The firm's 50 day moving average is $9.72 and its 200-day moving average is $11.17. DXC Technology Company. has a 12-month low of $7.90 and a 12-month high of $15.68. The stock has a market capitalization of $1.72 billion, a P/E ratio of 15.42 and a beta of 0.79.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01). DXC Technology had a return on equity of 15.60% and a net margin of 0.99%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The company's quarterly revenue was down 5.0% on a year-over-year basis. DXC Technology has set its Q2 2027 guidance at 0.550-0.550 EPS. Equities research analysts anticipate that DXC Technology Company. will post 2.61 EPS for the current fiscal year.

DXC Technology Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology's core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.

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