River Road Asset Management LLC lessened its stake in DXC Technology (NYSE:DXC - Free Report) by 77.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 331,054 shares of the company's stock after selling 1,131,468 shares during the quarter. River Road Asset Management LLC owned approximately 0.17% of DXC Technology worth $7,571,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in DXC Technology during the 2nd quarter worth $25,000. Belpointe Asset Management LLC raised its stake in DXC Technology by 656.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company's stock worth $29,000 after purchasing an additional 998 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of DXC Technology by 163.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company's stock worth $34,000 after purchasing an additional 815 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in shares of DXC Technology in the second quarter valued at approximately $41,000. Finally, Versant Capital Management Inc grew its position in DXC Technology by 3,525.9% during the fourth quarter. Versant Capital Management Inc now owns 2,103 shares of the company's stock worth $48,000 after buying an additional 2,045 shares in the last quarter. 96.20% of the stock is owned by institutional investors.
Insider Activity at DXC Technology
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares of the company's stock, valued at approximately $2,712,034.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.87% of the stock is owned by company insiders.
Analyst Ratings Changes
DXC has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $24.00 target price on shares of DXC Technology in a research report on Friday, February 2nd. Guggenheim initiated coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a "neutral" rating and a $22.00 price objective on the stock. Citigroup cut shares of DXC Technology from a "neutral" rating to a "sell" rating and dropped their target price for the company from $24.00 to $21.00 in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lowered shares of DXC Technology from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $27.00 to $24.00 in a research report on Wednesday, January 24th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, DXC Technology currently has an average rating of "Hold" and a consensus target price of $23.20.
Check Out Our Latest Stock Report on DXC Technology
DXC Technology Price Performance
DXC stock traded down $0.21 during trading on Thursday, reaching $19.58. 1,232,669 shares of the company were exchanged, compared to its average volume of 2,503,197. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of -10.41, a P/E/G ratio of 1.79 and a beta of 1.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average of $21.07 and a two-hundred day moving average of $21.95. DXC Technology has a twelve month low of $18.61 and a twelve month high of $28.89.
DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.10. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.36 billion. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. DXC Technology's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 EPS. As a group, equities analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.
DXC Technology Company Profile
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Free Report)
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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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