Convergence Investment Partners LLC Buys New Stake in DXC Technology Company. $DXC

Convergence Investment Partners LLC purchased a new position in DXC Technology Company. (NYSE:DXC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,845 shares of the company’s stock, valued at approximately $693,000.

Other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its holdings in shares of DXC Technology by 97.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock worth $60,150,000 after buying an additional 1,936,726 shares in the last quarter. Norges Bank bought a new stake in DXC Technology in the second quarter valued at $16,589,000. Qube Research & Technologies Ltd raised its stake in DXC Technology by 1,156.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock worth $17,317,000 after acquiring an additional 1,042,409 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of DXC Technology during the second quarter valued at $8,716,000. Finally, American Century Companies Inc. boosted its stake in shares of DXC Technology by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 6,995,343 shares of the company’s stock valued at $106,959,000 after purchasing an additional 491,668 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DXC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of DXC Technology in a research report on Wednesday, October 8th. Susquehanna set a $14.00 price objective on shares of DXC Technology and gave the stock a “neutral” rating in a research note on Friday, October 31st. Stifel Nicolaus cut their target price on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Wolfe Research set a $13.00 target price on DXC Technology and gave the stock an “underperform” rating in a report on Friday. Finally, Wall Street Zen lowered DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $14.71.

Insider Buying and Selling at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $15.15, for a total transaction of $37,875.00. Following the completion of the sale, the senior vice president owned 88,605 shares in the company, valued at $1,342,365.75. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is currently owned by insiders.

DXC Technology Price Performance

Shares of DXC stock opened at $15.29 on Tuesday. DXC Technology Company. has a 1 year low of $11.82 and a 1 year high of $23.75. The company has a current ratio of 1.35, a quick ratio of 1.09 and a debt-to-equity ratio of 0.91. The firm’s 50 day moving average is $14.65 and its 200-day moving average is $14.01. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 6.56 and a beta of 1.07.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the business posted $0.92 earnings per share. DXC Technology’s revenue for the quarter was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that DXC Technology Company. will post 3.35 EPS for the current fiscal year.

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.