Candriam Luxembourg S.C.A. reduced its position in DXC Technology (NYSE:DXC) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,881 shares of the company’s stock after selling 6,649 shares during the period. Candriam Luxembourg S.C.A.’s holdings in DXC Technology were worth $10,048,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada bought a new stake in DXC Technology during the 2nd quarter valued at approximately $10,753,000. Macquarie Group Ltd. bought a new stake in DXC Technology during the 2nd quarter valued at approximately $2,436,000. Gotham Asset Management LLC bought a new stake in DXC Technology during the 2nd quarter valued at approximately $1,510,000. Cubist Systematic Strategies LLC bought a new stake in DXC Technology during the 2nd quarter valued at approximately $713,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in DXC Technology during the 2nd quarter valued at approximately $1,265,000. 85.61% of the stock is currently owned by institutional investors.
A number of analysts have commented on the company. Zacks Investment Research downgraded DXC Technology from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Citigroup reiterated a “buy” rating and issued a $117.00 price objective (up previously from $107.00) on shares of DXC Technology in a research report on Thursday, January 18th. KeyCorp raised their target price on DXC Technology from $107.00 to $116.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Morgan Stanley raised their target price on DXC Technology from $104.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday, February 5th. Finally, Barclays raised their target price on DXC Technology from $108.00 to $113.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $103.33.
DXC Technology (NYSE DXC) traded up $1.36 during mid-day trading on Wednesday, reaching $102.03. The company’s stock had a trading volume of 296,279 shares, compared to its average volume of 1,654,808. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $28,803.05, a price-to-earnings ratio of 32.90, a PEG ratio of 1.23 and a beta of 0.95. DXC Technology has a 52-week low of $67.76 and a 52-week high of $102.95.
DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.16. The company had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.19 billion. DXC Technology had a return on equity of 17.97% and a net margin of 5.18%. DXC Technology’s revenue for the quarter was up 222.7% on a year-over-year basis. sell-side analysts expect that DXC Technology will post 7.83 earnings per share for the current year.
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About DXC Technology
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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