CCM Investment Group LLC Makes New Investment in DXC Technology Company. (NYSE:DXC)

Key Points

• CCM Investment Group LLC has acquired 26,544 shares of DXC Technology Company, valued at approximately $453,000.
• DXC Technology reported earnings per share of $0.68 for the last quarter, exceeding the consensus estimate of $0.64, despite a year-over-year revenue decline of 2.4%.
• Analysts have downgraded their price targets for DXC Technology, with notable reductions from JPMorgan Chase and BMO Capital Markets lowering theirs to $18.00 and $17.00 respectively.

CCM Investment Group LLC acquired a new stake in shares of DXC Technology Company. (NYSE:DXC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 26,544 shares of the company's stock, valued at approximately $453,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Byrne Asset Management LLC bought a new stake in shares of DXC Technology during the first quarter valued at approximately $33,000. Wealthquest Corp bought a new stake in shares of DXC Technology during the first quarter valued at approximately $49,000. GAMMA Investing LLC increased its position in shares of DXC Technology by 37.4% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock valued at $77,000 after purchasing an additional 1,226 shares during the period. Quarry LP grew its position in DXC Technology by 604.1% in the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock valued at $79,000 after acquiring an additional 3,413 shares during the period. Finally, CHICAGO TRUST Co NA bought a new stake in DXC Technology in the first quarter valued at $183,000. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Price Performance

DXC Technology stock traded up $0.01 on Friday, reaching $13.79. The company's stock had a trading volume of 550,808 shares, compared to its average volume of 1,753,743. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 6.70 and a beta of 1.18. The business's fifty day moving average price is $14.69 and its 200 day moving average price is $16.28. DXC Technology Company. has a twelve month low of $12.24 and a twelve month high of $24.83.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.04. DXC Technology had a return on equity of 18.59% and a net margin of 2.96%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm posted $0.74 earnings per share. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts expect that DXC Technology Company. will post 3.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DXC has been the topic of a number of analyst reports. Morgan Stanley lowered their price target on DXC Technology from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. BMO Capital Markets lowered their price target 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. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Royal Bank Of Canada lowered their price target on DXC Technology from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, DXC Technology has an average rating of "Hold" and an average price target of $16.40.

DXC Technology 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).