DXC Technology Company. $DXC Shares Purchased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. boosted its DXC stake by 28.1% in Q3, adding 162,958 shares to hold 742,963 shares worth about $10.13 million (0.43% of the company).
• Analysts have grown cautious—seven Hold and three Sell ratings leave DXC with an average rating of "Reduce" and an average price target of $14.71.
• CEO Raul J. Fernandez bought 16,446 shares at roughly $15.24 on Feb. 2, increasing his holdings to 816,001 shares and signaling insider buying interest.

JPMorgan Chase & Co. boosted its stake in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 28.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 742,963 shares of the company's stock after buying an additional 162,958 shares during the period. JPMorgan Chase & Co. owned 0.43% of DXC Technology worth $10,127,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its position in shares of DXC Technology by 38.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,814 shares of the company's stock valued at $38,000 after acquiring an additional 778 shares during the last quarter. CoreCap Advisors LLC increased its position in DXC Technology by 16.3% during the third quarter. CoreCap Advisors LLC now owns 6,271 shares of the company's stock worth $85,000 after purchasing an additional 879 shares during the last quarter. Arizona State Retirement System increased its position in DXC Technology by 1.8% during the third quarter. Arizona State Retirement System now owns 53,799 shares of the company's stock worth $733,000 after purchasing an additional 961 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in DXC Technology by 240.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company's stock worth $27,000 after purchasing an additional 1,227 shares during the period. Finally, Focus Partners Wealth boosted its holdings in 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 purchasing an additional 1,357 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on DXC shares. Wall Street Zen cut shares of DXC Technology from a "buy" rating to a "hold" rating in a research note on Saturday. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an "underperform" rating in a report on Friday, January 30th. BMO Capital Markets increased their price objective on DXC Technology from $15.00 to $17.00 and gave the stock a "market perform" rating in a research report on Tuesday, February 3rd. Finally, Zacks Research downgraded DXC Technology from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 3rd. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $14.71.

DXC Technology Price Performance

DXC Technology stock opened at $11.83 on Friday. The company's 50 day simple moving average is $13.19 and its 200-day simple moving average is $13.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.35. DXC Technology Company. has a 1 year low of $11.54 and a 1 year high of $17.68. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 5.08 and a beta of 1.10.

DXC Technology (NYSE:DXC - Get Free Report) last posted its earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.13. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm's revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. As a group, equities research analysts expect that DXC Technology Company. will post 3.35 earnings per share for the current year.

Insider Activity at DXC Technology

In other news, CEO Raul J. Fernandez acquired 16,446 shares of the company's stock in a transaction dated Monday, February 2nd. The stock was acquired at an average cost of $15.24 per share, with a total value of $250,637.04. Following the completion of the purchase, the chief executive officer owned 816,001 shares of the company's stock, valued at $12,435,855.24. This represents a 2.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

DXC Technology Company Profile

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.

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