Lazard Asset Management LLC Increases Stock Holdings in DXC Technology (NYSE:DXC)

Lazard Asset Management LLC raised its holdings in shares of DXC Technology (NYSE:DXC - Free Report) by 177.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,384 shares of the company's stock after buying an additional 71,869 shares during the period. Lazard Asset Management LLC owned about 0.06% of DXC Technology worth $2,244,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Treasurer of the State of North Carolina lifted its holdings in DXC Technology by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company's stock worth $1,571,000 after buying an additional 490 shares during the period. Arizona State Retirement System increased its stake in shares of DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company's stock valued at $1,048,000 after purchasing an additional 566 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company's stock valued at $237,000 after purchasing an additional 731 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of DXC Technology by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company's stock valued at $655,000 after purchasing an additional 740 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of DXC Technology by 116.1% during the fourth 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 in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DXC has been the subject of a number of analyst reports. Susquehanna decreased their target price on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Guggenheim reaffirmed a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Wall Street Zen downgraded shares of DXC Technology from a "buy" rating to a "hold" rating in a research report on Thursday. Royal Bank of Canada lowered their target price on shares of DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Finally, Morgan Stanley lowered their target price on shares of DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.00.

DXC Technology Price Performance

NYSE DXC traded down $0.42 during trading on Friday, hitting $14.75. 1,430,999 shares of the stock traded hands, compared to its average volume of 1,670,714. The company has a market capitalization of $2.67 billion, a P/E ratio of -35.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The firm has a 50-day simple moving average of $15.69 and a 200-day simple moving average of $18.89. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83.

DXC Technology (NYSE:DXC - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.13 billion. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, analysts predict that DXC Technology will post 3.35 EPS for the current year.

DXC Technology 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).