Hsbc Holdings PLC Acquires New Holdings in DXC Technology Company. $DXC

Key Points

• Hsbc Holdings PLC acquired 188,370 DXC Technology shares worth approximately $1.65 million, giving it about a 0.12% stake. Hedge funds and institutional investors collectively own 96.2% of the company.
• Analyst sentiment remains cautious: seven analysts rate DXC a Hold and two rate it Sell, resulting in an average “Reduce” rating and a consensus price target of $12.21.
• DXC reported quarterly revenue of $3 billion, slightly above expectations, but earnings of $0.40 per share missed estimates and revenue declined 5% year over year. Shares opened at $11.24, within a 12-month range of $7.90 to $15.68.

Hsbc Holdings PLC bought a new stake in DXC Technology Company. (NYSE:DXC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 188,370 shares of the company's stock, valued at approximately $1,653,000. Hsbc Holdings PLC owned about 0.12% of DXC Technology at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in DXC Technology by 21.5% in the second quarter. BlackRock Inc. now owns 28,276,735 shares of the company's stock valued at $250,249,000 after buying an additional 4,994,936 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of DXC Technology by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company's stock valued at $126,068,000 after purchasing an additional 258,819 shares during the last quarter. FIL Ltd boosted its stake in DXC Technology by 0.7% in the 4th quarter. FIL Ltd now owns 6,383,750 shares of the company's stock worth $93,522,000 after purchasing an additional 45,015 shares in the last quarter. State Street Corp grew its position in DXC Technology by 2.1% during the 2nd quarter. State Street Corp now owns 6,381,982 shares of the company's stock worth $97,581,000 after purchasing an additional 128,916 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in DXC Technology by 6.4% during the 4th quarter. AQR Capital Management LLC now owns 4,750,808 shares of the company's stock worth $69,599,000 after purchasing an additional 287,441 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on DXC shares. TD Cowen lifted their target price on DXC Technology from $10.00 to $12.00 and gave the stock a "hold" rating in a report on Monday, August 3rd. Royal Bank Of Canada decreased their price objective on shares of DXC Technology from $16.00 to $14.00 and set a "sector perform" rating for the company in a research note on Friday, July 31st. BMO Capital Markets cut their price objective on shares of DXC Technology from $17.00 to $10.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. Zacks Research raised shares of DXC Technology from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Finally, Morgan Stanley set a $12.00 price target on shares of DXC Technology in a report on Monday, August 3rd. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $12.21.

DXC Technology Price Performance

Shares of DXC Technology stock opened at $11.24 on Monday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 16.06 and a beta of 0.79. The business has a 50 day simple moving average of $10.09 and a two-hundred day simple moving average of $10.88. DXC Technology Company. has a 12 month low of $7.90 and a 12 month high of $15.68. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.99 billion. DXC Technology had a return on equity of 15.60% and a net margin of 0.99%.The firm's revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 earnings per share. DXC Technology has set its Q2 2027 guidance at 0.550-0.550 EPS. As a group, analysts predict that DXC Technology Company. will post 2.61 EPS for the current fiscal year.

DXC Technology 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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