ING Groep NV Takes Position in DXC Technology Company. (NYSE:DXC)

Key Points

• ING Groep NV recently acquired 66,000 shares of DXC Technology, valued at approximately $1,125,000, marking a new stake in the company.
• Analysts have mixed views on DXC Technology, with one upgrading it to a "buy" but others lowering their price targets, resulting in a consensus target of $16.40.
• DXC Technology reported a quarterly EPS of $0.68, exceeding expectations, despite a year-over-year revenue decline of 2.4%.

ING Groep NV acquired a new stake in shares of DXC Technology Company. (NYSE:DXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,000 shares of the company's stock, valued at approximately $1,125,000.

A number of other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in DXC Technology by 77.7% in the fourth quarter. Alliancebernstein L.P. now owns 163,461 shares of the company's stock valued at $3,266,000 after acquiring an additional 71,485 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of DXC Technology by 196.7% in the 4th quarter. Franklin Resources Inc. now owns 187,633 shares of the company's stock worth $3,749,000 after purchasing an additional 124,403 shares during the period. Federated Hermes Inc. boosted its stake in shares of DXC Technology by 1.6% during the 4th quarter. Federated Hermes Inc. now owns 667,653 shares of the company's stock valued at $13,340,000 after purchasing an additional 10,497 shares in the last quarter. Cerity Partners LLC increased its position in shares of DXC Technology by 47.1% during the fourth quarter. Cerity Partners LLC now owns 57,008 shares of the company's stock valued at $1,160,000 after buying an additional 18,256 shares during the period. Finally, Bank of Nova Scotia bought a new position in DXC Technology in the fourth quarter worth about $306,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DXC has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Susquehanna dropped their price target on DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on DXC Technology from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. BMO Capital Markets lowered their price objective on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research report on Thursday, May 15th. Finally, Wall Street Zen raised shares of DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, DXC Technology currently has a consensus rating of "Hold" and an average target price of $16.40.

DXC Technology Stock Down 0.6%

DXC Technology stock traded down $0.08 during mid-day trading on Monday, hitting $13.06. The company had a trading volume of 220,344 shares, compared to its average volume of 1,756,877. DXC Technology Company. has a 12 month low of $12.24 and a 12 month high of $24.83. The company has a market capitalization of $2.34 billion, a PE ratio of 6.34 and a beta of 1.18. The stock's 50 day moving average price is $14.83 and its two-hundred day moving average price is $16.43. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.90.

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 company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.06 billion. DXC Technology had a net margin of 2.96% and a return on equity of 18.59%. DXC Technology's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. As a group, sell-side analysts anticipate that DXC Technology Company. will post 3.35 earnings per share 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).