Assenagon Asset Management S.A. Acquires 300,590 Shares of DXC Technology (NYSE:DXC)

Assenagon Asset Management S.A. increased its holdings in DXC Technology (NYSE:DXC - Free Report) by 44.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 970,166 shares of the company's stock after buying an additional 300,590 shares during the quarter. Assenagon Asset Management S.A. owned about 0.54% of DXC Technology worth $16,541,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in DXC Technology during the fourth quarter worth approximately $55,000. Smartleaf Asset Management LLC increased its position in shares of DXC Technology by 366.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after purchasing an additional 2,356 shares during the period. Quarry LP raised its stake in shares of DXC Technology by 604.1% in the 4th quarter. Quarry LP now owns 3,978 shares of the company's stock worth $79,000 after buying an additional 3,413 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of DXC Technology by 37.4% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock valued at $77,000 after buying an additional 1,226 shares during the period. Finally, Trajan Wealth LLC bought a new position in DXC Technology during the fourth quarter valued at about $206,000. Institutional investors own 96.20% of the company's stock.

Analyst Ratings Changes

DXC has been the topic of several research reports. Susquehanna dropped their price target on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their target price on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a report on Wednesday, May 21st. Wall Street Zen cut shares of DXC Technology from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Guggenheim restated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Finally, Royal Bank of Canada cut their price objective on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, DXC Technology presently has an average rating of "Hold" and an average target price of $17.00.

DXC Technology Stock Performance

Shares of DXC traded up $0.27 during trading hours on Monday, reaching $15.85. 1,808,266 shares of the company traded hands, compared to its average volume of 1,508,411. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The stock's fifty day moving average is $15.37 and its 200 day moving average is $18.13. DXC Technology has a 1-year low of $13.44 and a 1-year high of $24.83. The stock has a market cap of $2.87 billion, a P/E ratio of -37.74, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.13 billion. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The business's revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. Equities research analysts anticipate that DXC Technology will post 3.35 earnings per share for the current fiscal year.

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).