Assenagon Asset Management S.A. Sells 786,935 Shares of DXC Technology Company. $DXC

Key Points

• Assenagon Asset Management cut its DXC Technology stake by 90.8% in the second quarter, selling 786,935 shares and retaining 79,759 shares valued at approximately $706,000. Institutional investors and hedge funds collectively own 96.2% of the company.
• Analyst sentiment remains cautious: seven analysts rate DXC a “Hold” and three rate it a “Sell,” producing an average “Reduce” rating and a consensus price target of $12.44.
• DXC reported quarterly EPS of $0.40, slightly below estimates, while revenue of $3 billion exceeded expectations but declined 5% year over year. Shares opened at $10.79, down 3.6%, with a 52-week range of $7.90 to $15.68.

Assenagon Asset Management S.A. trimmed its position in DXC Technology Company. (NYSE:DXC - Free Report) by 90.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 79,759 shares of the company's stock after selling 786,935 shares during the period. Assenagon Asset Management S.A.'s holdings in DXC Technology were worth $706,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Lido Advisors LLC lifted its position in DXC Technology by 6.1% during the 4th quarter. Lido Advisors LLC now owns 17,383 shares of the company's stock valued at $241,000 after purchasing an additional 1,003 shares during the period. Fifth Third Bancorp boosted its stake in 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 acquiring an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of DXC Technology by 110.5% in the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company's stock valued at $32,000 after buying an additional 1,147 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of DXC Technology by 240.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company's stock valued at $27,000 after buying an additional 1,227 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of DXC Technology by 9.9% in the 3rd quarter. Focus Partners Wealth now owns 15,094 shares of the company's stock valued at $202,000 after buying an additional 1,357 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen lifted their target price on DXC Technology from $10.00 to $12.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Weiss Ratings reissued a "sell (d)" rating on shares of DXC Technology in a research note on Friday, August 7th. Stifel Nicolaus dropped their target price on shares of DXC Technology from $12.00 to $10.50 and set a "hold" rating on the stock in a report on Friday, July 31st. Zacks Research raised shares of DXC Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Finally, Royal Bank Of Canada dropped their price objective on shares of DXC Technology from $16.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, July 31st. Seven research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $12.44.

DXC Technology Stock Down 3.6%

DXC Technology stock opened at $10.79 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of 15.42 and a beta of 0.79. DXC Technology Company. has a 1-year low of $7.90 and a 1-year high of $15.68. The company has a fifty day simple moving average of $9.72 and a 200 day simple moving average of $11.17. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.90.

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

About DXC Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source