Contrarian Capital Management L.L.C. Invests $546,000 in DXC Technology (NYSE:DXC)

Contrarian Capital Management L.L.C. purchased a new position in DXC Technology (NYSE:DXCGet Rating) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,000 shares of the company’s stock, valued at approximately $546,000.

Several other institutional investors have also recently made changes to their positions in DXC. Daiwa Securities Group Inc. grew its position in DXC Technology by 16.0% in the first quarter. Daiwa Securities Group Inc. now owns 2,719 shares of the company’s stock worth $89,000 after acquiring an additional 375 shares in the last quarter. Arizona State Retirement System grew its position in DXC Technology by 0.6% in the first quarter. Arizona State Retirement System now owns 68,184 shares of the company’s stock worth $2,225,000 after acquiring an additional 385 shares in the last quarter. M&T Bank Corp grew its position in DXC Technology by 2.5% in the second quarter. M&T Bank Corp now owns 16,255 shares of the company’s stock worth $470,000 after acquiring an additional 399 shares in the last quarter. Cetera Advisor Networks LLC grew its position in DXC Technology by 3.9% in the second quarter. Cetera Advisor Networks LLC now owns 10,681 shares of the company’s stock worth $323,000 after acquiring an additional 401 shares in the last quarter. Finally, Kentucky Retirement Systems grew its position in DXC Technology by 2.6% in the first quarter. Kentucky Retirement Systems now owns 15,583 shares of the company’s stock worth $508,000 after acquiring an additional 402 shares in the last quarter. Institutional investors own 87.01% of the company’s stock.

Insider Buying and Selling

In related news, Director Raul J. Fernandez sold 10,000 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $29.39, for a total value of $293,900.00. Following the completion of the transaction, the director now directly owns 52,092 shares of the company’s stock, valued at $1,530,983.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.47% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup cut their price target on shares of DXC Technology from $40.00 to $38.00 in a research report on Thursday, August 4th. Cowen cut their price target on shares of DXC Technology from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. Cowen cut their price target on shares of DXC Technology from $41.00 to $37.00 and set an “outperform” rating for the company in a research report on Monday, August 15th. Royal Bank of Canada upped their price target on shares of DXC Technology from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, November 7th. Finally, Susquehanna lowered shares of DXC Technology from a “positive” rating to a “neutral” rating and cut their price target for the company from $39.00 to $31.00 in a research report on Friday, September 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.91.

DXC Technology Trading Up 0.2 %

Shares of DXC Technology stock traded up $0.07 during trading on Thursday, reaching $29.61. 847,026 shares of the stock were exchanged, compared to its average volume of 2,221,346. DXC Technology has a 1 year low of $22.65 and a 1 year high of $39.65. The firm has a market cap of $6.81 billion, a price-to-earnings ratio of 9.64, a price-to-earnings-growth ratio of 0.69 and a beta of 1.95. The stock’s fifty day moving average is $27.52 and its 200 day moving average is $28.78. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.75.

DXC Technology (NYSE:DXCGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. DXC Technology had a net margin of 4.93% and a return on equity of 15.59%. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.56 billion. As a group, equities research analysts expect that DXC Technology will post 3.52 earnings per share for the current fiscal year.

About DXC Technology

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DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering, consulting, and data analytics solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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