ZWJ Investment Counsel Inc. Cuts Holdings in DXC Technology (NYSE:DXC)

ZWJ Investment Counsel Inc. cut its position in shares of DXC Technology (NYSE:DXC - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 639,000 shares of the company's stock after selling 105,382 shares during the quarter. ZWJ Investment Counsel Inc. owned approximately 0.33% of DXC Technology worth $14,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd purchased a new position in DXC Technology in the fourth quarter valued at about $227,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in DXC Technology by 5.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,385 shares of the company's stock valued at $1,015,000 after acquiring an additional 2,258 shares during the last quarter. Mackenzie Financial Corp boosted its stake in DXC Technology by 6.3% in the fourth quarter. Mackenzie Financial Corp now owns 1,010,463 shares of the company's stock valued at $23,109,000 after acquiring an additional 59,588 shares during the last quarter. Strs Ohio purchased a new position in DXC Technology in the fourth quarter valued at about $1,035,000. Finally, Lecap Asset Management Ltd. purchased a new position in DXC Technology in the fourth quarter valued at about $309,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Price Performance

NYSE DXC traded up $0.56 on Friday, hitting $20.14. The stock had a trading volume of 1,308,213 shares, compared to its average volume of 2,487,641. DXC Technology has a 52-week low of $18.61 and a 52-week high of $28.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -10.54, a price-to-earnings-growth ratio of 1.77 and a beta of 1.85. The firm has a 50-day moving average of $20.98 and a 200-day moving average of $21.92.

DXC Technology (NYSE:DXC - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.36 billion. During the same period in the prior year, the company posted $0.95 EPS. The business's revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts expect that DXC Technology will post 3.03 EPS for the current year.

Insider Transactions at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares of the company's stock, valued at approximately $2,712,034.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.87% of the company's stock.

Analyst Upgrades and Downgrades

DXC has been the topic of a number of research analyst reports. 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 note on Wednesday, January 17th. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price target on shares of DXC Technology in a research note on Friday, February 2nd. JPMorgan Chase & Co. cut shares of DXC Technology from a "neutral" rating to an "underweight" rating and dropped their price target for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. Finally, Guggenheim began coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a "neutral" rating and a $22.00 price target on the stock. Three research analysts have rated the stock with a sell rating and six have given a hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $23.20.

About DXC Technology

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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