Lazard Asset Management LLC boosted its stake in shares of DXC Technology (NYSE:DXC - Free Report) by 177.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,384 shares of the company's stock after buying an additional 71,869 shares during the period. Lazard Asset Management LLC owned approximately 0.06% of DXC Technology worth $2,244,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. increased its stake in DXC Technology by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 63,230 shares of the company's stock worth $1,272,000 after buying an additional 1,502 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of DXC Technology by 4,893.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 669,576 shares of the company's stock valued at $13,378,000 after purchasing an additional 656,167 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of DXC Technology by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 48,733 shares of the company's stock worth $974,000 after purchasing an additional 2,564 shares during the period. KBC Group NV raised its holdings in DXC Technology by 2,380.1% in the fourth quarter. KBC Group NV now owns 142,505 shares of the company's stock worth $2,847,000 after purchasing an additional 136,759 shares in the last quarter. Finally, Twelve Points Wealth Management LLC increased its position in DXC Technology by 20.9% during the 4th quarter. Twelve Points Wealth Management LLC now owns 83,467 shares of the company's stock valued at $1,668,000 after buying an additional 14,445 shares in the last quarter. Institutional investors own 96.20% of the company's stock.
DXC Technology Stock Up 3.6%
Shares of DXC stock traded up $0.53 during trading on Thursday, reaching $15.29. The company's stock had a trading volume of 1,122,648 shares, compared to its average volume of 1,676,298. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. The stock's 50-day moving average price is $15.79 and its 200 day moving average price is $18.96. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of -36.45, a P/E/G ratio of 1.16 and a beta of 1.18. DXC Technology has a 1-year low of $13.44 and a 1-year high of $24.83.
DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that DXC Technology will post 3.35 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Guggenheim reissued a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Susquehanna lowered their price objective on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target 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. JPMorgan Chase & Co. reduced their price target on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Wednesday. Finally, BMO Capital Markets decreased their price target on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $17.00.
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DXC Technology Profile
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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).
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