Cerity Partners LLC Cuts Stake in DXC Technology Company. (NYSE:DXC)

Key Points

• Cerity Partners LLC reduced its stake in DXC Technology by 64.8% during the first quarter, now holding 20,075 shares valued at approximately $342,000.
• Overall, 96.20% of DXC Technology's stock is owned by institutional investors, indicating strong institutional interest in the company.
• Analysts have adjusted price targets for DXC Technology, with Morgan Stanley lowering its target from $22.00 to $16.00, while the consensus rating remains a "Hold" with an average target price of $17.00.

Cerity Partners LLC cut its holdings in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 64.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,075 shares of the company's stock after selling 36,933 shares during the quarter. Cerity Partners LLC's holdings in DXC Technology were worth $342,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in DXC Technology by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 10,748 shares of the company's stock worth $215,000 after purchasing an additional 3,833 shares during the period. Principal Financial Group Inc. grew its stake in shares of DXC Technology by 2.4% during the first quarter. Principal Financial Group Inc. now owns 898,356 shares of the company's stock valued at $15,317,000 after buying an additional 20,957 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of DXC Technology by 323.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 63,772 shares of the company's stock worth $1,106,000 after buying an additional 48,711 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of DXC Technology by 15.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,767 shares of the company's stock valued at $354,000 after acquiring an additional 2,724 shares during the last quarter. Finally, Twelve Points Wealth Management LLC boosted its holdings in DXC Technology by 22.2% during the 1st quarter. Twelve Points Wealth Management LLC now owns 101,974 shares of the company's stock valued at $1,739,000 after acquiring an additional 18,507 shares during the period. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Stock Performance

Shares of DXC stock opened at $14.27 on Friday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 6.76 and a beta of 1.20. The stock has a fifty day moving average of $15.16 and a 200 day moving average of $16.94. DXC Technology Company. has a 52 week low of $13.44 and a 52 week high of $24.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.86.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley lowered their price objective 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. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. BMO Capital Markets cut their price target on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of DXC Technology from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.00.

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).

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