LSV Asset Management Acquires 769,026 Shares of DXC Technology Company. (NYSE:DXC)

Key Points

• LSV Asset Management increased its stake in DXC Technology by 22.7%, acquiring an additional 769,026 shares to own a total of 4,151,398 shares, valued at approximately $70.78 million.
• DXC Technology reported $0.68 EPS for the last quarter, exceeding analyst expectations of $0.64, but experienced a revenue decline of 2.4% year-over-year.
• The stock is currently trading at $12.87 after a 5.4% drop, with an average target price set at $16.40 by analysts, showing a range of ratings from "sell" to "buy."

LSV Asset Management raised its position in DXC Technology Company. (NYSE:DXC - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,151,398 shares of the company's stock after acquiring an additional 769,026 shares during the period. LSV Asset Management owned approximately 2.29% of DXC Technology worth $70,781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of DXC. Byrne Asset Management LLC acquired a new stake in DXC Technology in the first quarter valued at approximately $33,000. Wealthquest Corp acquired a new stake in DXC Technology in the first quarter valued at approximately $49,000. GAMMA Investing LLC boosted its stake in DXC Technology by 37.4% in the first 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 in the last quarter. Quarry LP boosted its stake in DXC Technology by 604.1% in the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock valued at $79,000 after acquiring an additional 3,413 shares in the last quarter. Finally, CHICAGO TRUST Co NA acquired a new stake in DXC Technology in the first quarter valued at approximately $183,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Trading Down 5.4%

NYSE DXC opened at $12.87 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86. The company has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $16.72. DXC Technology Company. has a 12-month low of $12.24 and a 12-month high of $24.83. The stock has a market cap of $2.33 billion, a P/E ratio of 6.25 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. DXC Technology had a net margin of 2.96% and a return on equity of 18.73%. The firm had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the company posted $0.74 earnings per share. The firm's revenue was down 2.4% compared to the same quarter last year. On average, analysts forecast that DXC Technology Company. will post 3.35 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a research note on Wednesday, May 21st. Susquehanna decreased their price target on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. BMO Capital Markets decreased their price target on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, May 15th. Royal Bank Of Canada decreased their price target on shares of DXC Technology from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Friday. Finally, Wall Street Zen raised shares of DXC Technology from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $16.40.

About DXC Technology

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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