Victory Capital Management Inc. Has $3.57 Million Stock Holdings in DXC Technology Company. (NYSE:DXC)

Key Points

• Victory Capital Management Inc. increased its stake in DXC Technology by 127.6%, acquiring an additional 117,364 shares, raising their total to 209,344 shares worth approximately $3.57 million.
• Several hedge funds, including Deutsche Bank AG and AQR Capital Management LLC, significantly increased their positions in DXC Technology during the fourth quarter, indicating strong institutional interest in the stock.
• Analysts have set a average price target of $17.00 for DXC Technology, with notable downgrades from firms like JPMorgan Chase and BMO Capital Markets, reflecting cautious sentiment on the stock's future performance.

Victory Capital Management Inc. grew its position in DXC Technology Company. (NYSE:DXC - Free Report) by 127.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 209,344 shares of the company's stock after purchasing an additional 117,364 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of DXC Technology worth $3,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DXC. HighTower Advisors LLC boosted its holdings in shares of DXC Technology by 8.2% in the fourth quarter. HighTower Advisors LLC now owns 18,069 shares of the company's stock valued at $361,000 after acquiring an additional 1,370 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of DXC Technology in the fourth quarter valued at approximately $981,000. Vanguard Group Inc. boosted its holdings in shares of DXC Technology by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 23,634,617 shares of the company's stock valued at $472,220,000 after acquiring an additional 270,206 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of DXC Technology by 15.0% in the fourth quarter. Prudential Financial Inc. now owns 230,463 shares of the company's stock valued at $4,605,000 after acquiring an additional 29,975 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of DXC Technology by 25.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 445,589 shares of the company's stock valued at $8,903,000 after acquiring an additional 90,855 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Price Performance

DXC stock traded down $0.14 on Thursday, hitting $13.60. 294,564 shares of the company's stock traded hands, compared to its average volume of 1,712,275. DXC Technology Company. has a 1-year low of $13.44 and a 1-year high of $24.83. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 6.44 and a beta of 1.20. The stock has a fifty day moving average of $15.09 and a 200-day moving average of $16.83. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.86.

DXC Technology (NYSE:DXC - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. DXC Technology had a net margin of 3.02% and a return on equity of 19.36%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business earned $0.97 earnings per share. The business's quarterly revenue was down 6.4% on a year-over-year basis. On average, analysts forecast that DXC Technology Company. will post 3.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DXC. Wall Street Zen upgraded shares of DXC Technology from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Morgan Stanley decreased their price objective on shares of DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a report on Thursday, May 15th. Royal Bank Of Canada decreased their price objective on shares of DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Susquehanna decreased their price objective 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. Finally, Guggenheim reissued a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.00.

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).