AIA Group Ltd Acquires Shares of 9,906 DXC Technology (NYSE:DXC)

AIA Group Ltd purchased a new position in DXC Technology (NYSE:DXC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 9,906 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in DXC. Pacer Advisors Inc. boosted its position in shares of DXC Technology by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock worth $188,317,000 after purchasing an additional 3,827,176 shares during the last quarter. Norges Bank bought a new position in shares of DXC Technology in the 4th quarter worth $69,385,000. Invesco Ltd. boosted its position in shares of DXC Technology by 9.5% in the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock worth $355,784,000 after purchasing an additional 1,478,484 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of DXC Technology by 3,407.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,411,199 shares of the company’s stock worth $29,395,000 after purchasing an additional 1,370,962 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of DXC Technology by 993.5% in the 2nd quarter. Millennium Management LLC now owns 682,855 shares of the company’s stock worth $20,697,000 after purchasing an additional 620,408 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup downgraded DXC Technology from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of DXC Technology in a research note on Friday, February 2nd. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $27.00 to $24.00 in a research note on Wednesday, January 24th. Finally, Guggenheim assumed coverage on DXC Technology in a research note on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to MarketBeat.com, DXC Technology presently has a consensus rating of “Hold” and a consensus price target of $23.20.

DXC Technology Stock Performance

DXC opened at $20.14 on Friday. The business’s 50-day moving average price is $20.98 and its two-hundred day moving average price is $21.92. DXC Technology has a 1 year low of $18.61 and a 1 year high of $28.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.10. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that DXC Technology will post 3.03 earnings per share for the current year.

Insider Activity

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

DXC Technology Profile

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).