Virtus Fund Advisers LLC bought a new position in DXC Technology (NYSE:DXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 54,908 shares of the company's stock, valued at approximately $1,097,000. DXC Technology makes up 3.4% of Virtus Fund Advisers LLC's portfolio, making the stock its 6th biggest holding.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DXC. Treasurer of the State of North Carolina boosted its holdings in DXC Technology by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company's stock valued at $1,571,000 after acquiring an additional 490 shares during the last quarter. Arizona State Retirement System grew its position in shares of DXC Technology by 1.1% during the 4th quarter. Arizona State Retirement System now owns 52,475 shares of the company's stock worth $1,048,000 after buying an additional 566 shares during the period. Highland Capital Management LLC raised its stake in shares of DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company's stock worth $237,000 after buying an additional 731 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of DXC Technology by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company's stock worth $655,000 after buying an additional 740 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in 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 buying an additional 900 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.
DXC Technology Trading Down 4.8%
NYSE DXC opened at $15.26 on Monday. DXC Technology has a 52 week low of $13.44 and a 52 week high of $24.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The stock's 50 day moving average price is $15.90 and its two-hundred day moving average price is $19.05. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -36.32, a PEG ratio of 1.16 and a beta of 1.18.
DXC Technology (NYSE:DXC - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The firm's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, analysts anticipate that DXC Technology will post 3.35 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
DXC has been the topic of a number of analyst reports. Guggenheim reissued a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Morgan Stanley cut their target price on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday. Royal Bank of Canada decreased their target price on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a research report on Thursday. BMO Capital Markets cut 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. Finally, 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. One analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $17.83.
View Our Latest Stock Report on DXC Technology
DXC Technology Company Profile
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Free Report)
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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