Millennium Management LLC Acquires 1,563,775 Shares of DXC Technology Company. $DXC

Key Points

• Millennium Management LLC significantly increased its stake in DXC Technology by 1,765.9%, now owning approximately 1.65 million shares worth $28.17 million.
• Analysts have mixed opinions on DXC Technology, with estimates for the stock price cut from $26.00 to $14.00 by various firms, while only one analyst rates it as a "buy."
• DXC Technology reported a quarterly earnings beat with an EPS of $0.68, although revenue decreased by 2.4% year-over-year.

Millennium Management LLC raised its stake in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 1,765.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,652,331 shares of the company's stock after purchasing an additional 1,563,775 shares during the quarter. Millennium Management LLC owned 0.91% of DXC Technology worth $28,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. lifted its position in 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 purchasing an additional 20,957 shares during the last quarter. Nuveen LLC bought a new stake in DXC Technology during the first quarter valued at approximately $10,830,000. Jump Financial LLC bought a new stake in DXC Technology during the first quarter valued at approximately $1,898,000. XTX Topco Ltd bought a new stake in DXC Technology during the first quarter valued at approximately $1,570,000. Finally, Allspring Global Investments Holdings LLC grew its position in DXC Technology by 323.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 63,772 shares of the company's stock valued at $1,106,000 after acquiring an additional 48,711 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DXC. Wall Street Zen upgraded shares of DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Morgan Stanley reduced their price target on shares of 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. Royal Bank Of Canada reduced their price target on shares of 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, JPMorgan Chase & Co. dropped their price objective on DXC Technology from $18.00 to $14.00 and set an "underweight" rating for the company in a research note on Wednesday, August 20th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $15.60.

DXC Technology Stock Up 0.9%

DXC Technology stock traded up $0.13 on Wednesday, hitting $14.20. 191,199 shares of the stock traded hands, compared to its average volume of 1,731,958. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.54 billion, a P/E ratio of 6.88 and a beta of 1.16. The business's fifty day simple moving average is $14.10 and its 200 day simple moving average is $15.24. DXC Technology Company. has a 1 year low of $12.24 and a 1 year high of $24.83.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.06 billion. DXC Technology had a return on equity of 18.59% and a net margin of 2.96%.The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. DXC Technology has set its Q2 2026 guidance at 0.650-0.750 EPS. FY 2026 guidance at 2.850-3.350 EPS. As a group, sell-side analysts forecast that DXC Technology Company. will post 3.35 earnings per share for the current year.

Insiders Place Their Bets

In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $14.52, for a total transaction of $36,300.00. Following the completion of the sale, the senior vice president directly owned 91,105 shares in the company, valued at approximately $1,322,844.60. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company's stock.

DXC Technology Company 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).