CX Institutional Raises Stock Holdings in DXC Technology (NYSE:DXC)

CX Institutional boosted its holdings in DXC Technology (NYSE:DXC - Free Report) by 277,642.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 144,426 shares of the company's stock after buying an additional 144,374 shares during the quarter. CX Institutional owned 0.08% of DXC Technology worth $2,462,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Newbridge Financial Services Group Inc. grew its stake in shares of DXC Technology by 116.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock valued at $33,000 after purchasing an additional 900 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of DXC Technology during the 4th quarter valued at about $55,000. Smartleaf Asset Management LLC grew its stake in shares of DXC Technology by 366.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after purchasing an additional 2,356 shares during the period. Quarry LP grew its stake in shares of DXC Technology by 604.1% during the 4th quarter. Quarry LP now owns 3,978 shares of the company's stock valued at $79,000 after purchasing an additional 3,413 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of DXC Technology by 37.4% during the 1st quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock valued at $77,000 after acquiring an additional 1,226 shares during the period. Hedge funds and other institutional investors own 96.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley cut their price objective on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, May 15th. BMO Capital Markets cut their price objective on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research note on Thursday, May 15th. Royal Bank of Canada cut their price objective on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded DXC Technology from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.00.

DXC Technology Price Performance

DXC stock traded down $0.30 during midday trading on Friday, hitting $15.56. The company's stock had a trading volume of 1,617,781 shares, compared to its average volume of 1,507,206. DXC Technology has a 12 month low of $13.44 and a 12 month high of $24.83. 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 firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of -37.05, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22. The company has a 50 day moving average of $15.33 and a two-hundred day moving average of $18.18.

DXC Technology (NYSE:DXC - Get Free Report) last posted 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 business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company posted $0.97 EPS. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, analysts expect that DXC Technology will post 3.35 EPS for the current 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).