Virtus Investment Advisers Inc. Acquires New Holdings in DXC Technology (NYSE:DXC)

Virtus Investment Advisers Inc. bought a new stake in DXC Technology (NYSE:DXC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 59,188 shares of the company's stock, valued at approximately $1,183,000. DXC Technology makes up about 0.9% of Virtus Investment Advisers Inc.'s holdings, making the stock its 19th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DXC. Newbridge Financial Services Group Inc. boosted its position in shares of DXC Technology by 116.1% during the 4th 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 in the last quarter. Meeder Asset Management Inc. bought a new position in shares of DXC Technology during the 4th quarter valued at about $55,000. Smartleaf Asset Management LLC boosted its position in shares of DXC Technology by 366.4% during the 4th 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 in the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of DXC Technology by 60.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock valued at $64,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Quarry LP boosted its position in shares of DXC Technology by 604.1% during the 4th quarter. Quarry LP now owns 3,978 shares of the company's stock valued at $79,000 after purchasing an additional 3,413 shares in the last quarter. Institutional investors own 96.20% of the company's stock.

DXC Technology Stock Down 3.3%

Shares of NYSE DXC traded down $0.51 during mid-day trading on Wednesday, reaching $14.77. The company had a trading volume of 1,699,896 shares, compared to its average volume of 1,678,113. The stock has a fifty day moving average of $15.79 and a two-hundred day moving average of $18.96. 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 company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -35.17, a PEG ratio of 1.16 and a beta of 1.18. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates 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 was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. As a group, equities research analysts expect that DXC Technology will post 3.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley reduced 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 research note on Thursday, May 15th. Guggenheim reaffirmed a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Susquehanna reduced their price objective on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. BMO Capital Markets reduced their price objective on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research note on Thursday, May 15th. Finally, Royal Bank of Canada reduced 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 research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $17.17.

DXC Technology 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).