Allianz Asset Management GmbH Purchases 82,865 Shares of DXC Technology Company. (NYSE:DXC)

Key Points

• Allianz Asset Management GmbH increased its stake in DXC Technology by 17.2% during the first quarter, owning 565,886 shares worth approximately $9.65 million.
• DXC Technology reported $0.84 earnings per share for the last quarter, exceeding analyst expectations of $0.76, despite a year-over-year revenue decline of 6.4%.
• Analysts have set a consensus target price of $17.00 for DXC Technology, with the stock currently rated as a "hold," and recent upgrades and downgrades from major financial institutions.

Allianz Asset Management GmbH raised its stake in DXC Technology Company. (NYSE:DXC - Free Report) by 17.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 565,886 shares of the company's stock after buying an additional 82,865 shares during the period. Allianz Asset Management GmbH owned about 0.31% of DXC Technology worth $9,648,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DXC. Victory Capital Management Inc. boosted its position in shares of DXC Technology by 127.6% during the 1st quarter. Victory Capital Management Inc. now owns 209,344 shares of the company's stock valued at $3,569,000 after purchasing an additional 117,364 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of DXC Technology during the 1st quarter valued at about $4,534,000. Xponance Inc. boosted its holdings in DXC Technology by 31.5% in the first quarter. Xponance Inc. now owns 14,032 shares of the company's stock worth $239,000 after acquiring an additional 3,359 shares in the last quarter. Twelve Points Wealth Management LLC boosted its holdings in DXC Technology by 22.2% in the first quarter. Twelve Points Wealth Management LLC now owns 101,974 shares of the company's stock worth $1,739,000 after acquiring an additional 18,507 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in DXC Technology by 2.4% in the first quarter. Principal Financial Group Inc. now owns 898,356 shares of the company's stock worth $15,317,000 after acquiring an additional 20,957 shares in the last quarter. Institutional investors own 96.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on DXC. JPMorgan Chase & Co. cut their price target on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Morgan Stanley decreased their price target on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, May 15th. Royal Bank Of Canada reduced their price objective on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. BMO Capital Markets cut their price target on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, May 15th. Finally, Susquehanna dropped their price objective on DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $17.00.

DXC Technology Trading Down 1.0%

DXC traded down $0.15 on Tuesday, hitting $14.09. 798,939 shares of the company were exchanged, compared to its average volume of 1,712,826. DXC Technology Company. has a 12 month low of $13.44 and a 12 month high of $24.83. The stock has a market capitalization of $2.55 billion, a PE ratio of 6.67 and a beta of 1.20. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a fifty day simple moving average of $15.14 and a two-hundred day simple moving average of $16.88.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. DXC Technology had a return on equity of 19.36% and a net margin of 3.02%. The company had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $0.97 EPS. DXC Technology's revenue was down 6.4% compared to the same quarter last year. Sell-side analysts expect that DXC Technology Company. will post 3.35 earnings per share for the current year.

DXC Technology Company Profile

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).