Waterfront Wealth Inc. Has $3.29 Million Position in DXC Technology Company. $DXC

Key Points

• Waterfront Wealth Inc. increased its stake in DXC by 55.4% during Q4 to 220,922 shares, valued at about $3.29 million.
• CEO Raul J. Fernandez purchased 16,446 shares at $15.24 on Feb. 2, bringing his direct holdings to 816,001 shares; insiders own 0.61% of DXC while institutional investors own 96.20%.
• Analyst sentiment is negative with a MarketBeat consensus rating of "Reduce" and an average target of $14.63; DXC trades around $12.97, has a market cap of $2.2B and a P/E of 5.57, and recently topped EPS estimates for the quarter.

Waterfront Wealth Inc. grew its holdings in DXC Technology Company. (NYSE:DXC - Free Report) by 55.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 220,922 shares of the company's stock after purchasing an additional 78,730 shares during the quarter. Waterfront Wealth Inc. owned about 0.13% of DXC Technology worth $3,285,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of DXC Technology by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company's stock worth $10,127,000 after acquiring an additional 162,958 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of DXC Technology by 2,316.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company's stock worth $23,001,000 after acquiring an additional 1,505,069 shares during the last quarter. Vanguard Group Inc. raised its position in shares of DXC Technology by 3.5% during the third quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company's stock worth $319,654,000 after acquiring an additional 800,973 shares during the last quarter. Nierenberg Investment Management Company Inc. raised its position in shares of DXC Technology by 634.5% during the third quarter. Nierenberg Investment Management Company Inc. now owns 99,555 shares of the company's stock worth $1,357,000 after acquiring an additional 86,000 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of DXC Technology by 23.6% during the third quarter. State of Alaska Department of Revenue now owns 370,768 shares of the company's stock worth $5,052,000 after acquiring an additional 70,782 shares during the last quarter. Institutional investors own 96.20% of the company's stock.

Insider Activity

In other DXC Technology news, CEO Raul J. Fernandez purchased 16,446 shares of the stock in a transaction on Monday, February 2nd. The stock was bought at an average cost of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the acquisition, the chief executive officer directly owned 816,001 shares of the company's stock, valued at $12,435,855.24. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently commented on DXC. Zacks Research downgraded DXC Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 3rd. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an "underperform" rating in a report on Friday, January 30th. BMO Capital Markets boosted their price objective on shares of DXC Technology from $15.00 to $17.00 and gave the company a "market perform" rating in a report on Tuesday, February 3rd. Wall Street Zen cut shares of DXC Technology from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, TD Cowen cut their target price on shares of DXC Technology from $15.00 to $14.00 and set a "hold" rating on the stock in a report on Monday, April 6th. Eight equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $14.63.

DXC Technology Stock Up 0.0%

Shares of DXC Technology stock opened at $12.97 on Monday. DXC Technology Company. has a 1 year low of $11.23 and a 1 year high of $17.26. The business has a 50-day moving average of $12.55 and a two-hundred day moving average of $13.51. The company has a market capitalization of $2.20 billion, a P/E ratio of 5.57 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.13. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that DXC Technology Company. will post 3.35 EPS for the current year.

About DXC Technology

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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