Virtus Fund Advisers LLC Makes New $1.10 Million Investment in DXC Technology (NYSE:DXC)

Virtus Fund Advisers LLC purchased a new position in DXC Technology (NYSE:DXC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 54,908 shares of the company's stock, valued at approximately $1,097,000. DXC Technology accounts for about 3.4% of Virtus Fund Advisers LLC's investment portfolio, making the stock its 6th biggest holding.

Other large investors also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. increased its holdings in shares of DXC Technology by 116.1% in 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 during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DXC Technology in the fourth quarter valued at approximately $55,000. Smartleaf Asset Management LLC increased its holdings in shares of DXC Technology by 366.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after purchasing an additional 2,356 shares during the last quarter. Brown Lisle Cummings Inc. grew its position in DXC Technology by 60.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock worth $64,000 after acquiring an additional 1,200 shares during the period. Finally, Quarry LP grew its position in DXC Technology by 604.1% in the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock worth $79,000 after acquiring an additional 3,413 shares during the period. Institutional investors and hedge funds own 96.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DXC. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Wall Street Zen cut DXC Technology from a "buy" rating to a "hold" rating in a research note on Thursday. Royal Bank of Canada cut their target price on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $17.00.

DXC Technology Stock Performance

NYSE DXC traded down $0.42 during trading hours on Friday, reaching $14.75. The company's stock had a trading volume of 1,430,999 shares, compared to its average volume of 1,670,714. The business has a 50-day simple moving average of $15.69 and a 200 day simple moving average of $18.89. DXC Technology has a 52 week low of $13.44 and a 52 week high of $24.83. The stock has a market cap of $2.67 billion, a PE ratio of -35.11, a PEG ratio of 1.16 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12.

DXC Technology (NYSE:DXC - Get Free Report) last issued its 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 negative net margin of 0.57% and a positive return on equity of 20.70%. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period last year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. Equities research analysts predict that DXC Technology will post 3.35 earnings per share for the current fiscal year.

DXC Technology Company 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).