SG Americas Securities LLC Grows Stake in DXC Technology Company. $DXC

Key Points

• SG Americas Securities LLC increased its stake in DXC Technology by 42% in the first quarter, owning 1,068,547 shares worth about $13.4 million at quarter-end.
• Analysts remain cautious on DXC, with multiple recent downgrades and a consensus rating of “Reduce”; the average target price is $12.75.
• DXC’s stock traded up 6.9% to $8.80, while the company reported quarterly EPS of $0.77, topping estimates, even as revenue slipped 1.2% year over year.

SG Americas Securities LLC raised its holdings in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 42.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,068,547 shares of the company's stock after purchasing an additional 316,218 shares during the period. SG Americas Securities LLC owned 0.63% of DXC Technology worth $13,432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DXC. EverSource Wealth Advisors LLC grew its stake in DXC Technology by 240.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company's stock worth $27,000 after buying an additional 1,227 shares during the last quarter. Danske Bank A S raised its stake in DXC Technology by 280.0% in the fourth quarter. Danske Bank A S now owns 1,900 shares of the company's stock valued at $28,000 after buying an additional 1,400 shares during the last quarter. Fifth Third Bancorp raised its stake in DXC Technology by 116.0% in the fourth quarter. Fifth Third Bancorp now owns 2,102 shares of the company's stock valued at $31,000 after buying an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in DXC Technology by 110.5% in the fourth quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company's stock worth $32,000 after acquiring an additional 1,147 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in DXC Technology by 13,258.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company's stock worth $33,000 after acquiring an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company's stock.

Analysts Set New Price Targets

DXC has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of DXC Technology from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. TD Cowen lowered their target price on shares of DXC Technology from $15.00 to $14.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Zacks Research downgraded shares of DXC Technology from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 12th. BMO Capital Markets cut their price target 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. Finally, Weiss Ratings cut shares of DXC Technology from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, May 11th. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $12.75.

DXC Technology Trading Up 6.9%

Shares of NYSE:DXC opened at $8.80 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94. DXC Technology Company. has a 52-week low of $7.90 and a 52-week high of $16.45. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 146.60 and a beta of 0.81. The business has a 50-day moving average price of $9.90 and a 200-day moving average price of $12.34.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Friday, May 8th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the firm earned $0.84 earnings per share. DXC Technology's revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts predict that DXC Technology Company. will post 2.64 EPS for the current year.

Insider Activity at DXC Technology

In other news, CEO Raul J. Fernandez acquired 28,051 shares of the company's stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $8.90 per share, with a total value of $249,653.90. Following the purchase, the chief executive officer directly owned 844,052 shares of the company's stock, valued at $7,512,062.80. This trade represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.13% of the stock is owned by insiders.

DXC Technology Company 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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