Voloridge Investment Management LLC Grows Position in DXC Technology (NYSE:DXC)

Voloridge Investment Management LLC boosted its holdings in DXC Technology (NYSE:DXC - Free Report) by 36.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512,341 shares of the company's stock after purchasing an additional 136,617 shares during the quarter. Voloridge Investment Management LLC owned about 0.28% of DXC Technology worth $10,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vident Advisory LLC boosted its holdings in DXC Technology by 2.5% in the fourth quarter. Vident Advisory LLC now owns 25,279 shares of the company's stock valued at $505,000 after purchasing an additional 624 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in DXC Technology in the fourth quarter valued at approximately $1,097,000. Virtus Investment Advisers Inc. acquired a new position in DXC Technology in the fourth quarter valued at approximately $1,183,000. Two Sigma Investments LP boosted its holdings in DXC Technology by 24.5% in the fourth quarter. Two Sigma Investments LP now owns 31,499 shares of the company's stock valued at $629,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in DXC Technology in the fourth quarter valued at approximately $485,000. 96.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Wall Street Zen downgraded DXC Technology from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Susquehanna decreased their price objective on DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Guggenheim reissued a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. decreased their price objective on DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $17.00.

DXC Technology Stock Performance

Shares of NYSE DXC traded down $0.33 during mid-day trading on Friday, hitting $15.14. 199,334 shares of the company were exchanged, compared to its average volume of 1,654,187. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The stock has a 50 day simple moving average of $15.54 and a 200-day simple moving average of $18.69. DXC Technology has a 1-year low of $13.44 and a 1-year high of $24.83. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -36.13, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The firm had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $0.97 earnings per share. The company's revenue for the quarter was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that DXC Technology will post 3.35 EPS for the current fiscal year.

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).