FIL Ltd Boosts Position in DXC Technology (NYSE:DXC)

FIL Ltd lifted its stake in shares of DXC Technology (NYSE:DXC) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 6,598,101 shares of the company’s stock after buying an additional 267,480 shares during the quarter. FIL Ltd’s holdings in DXC Technology were worth $150,899,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of DXC Technology by 323.0% during the 4th quarter. Principal Financial Group Inc. now owns 997,769 shares of the company’s stock worth $22,819,000 after acquiring an additional 761,884 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of DXC Technology by 388.6% during the 4th quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after acquiring an additional 94,748 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of DXC Technology during the 4th quarter worth $1,472,000. Quadrant Capital Group LLC raised its holdings in shares of DXC Technology by 450.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,618 shares of the company’s stock worth $151,000 after acquiring an additional 5,415 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of DXC Technology during the 4th quarter worth $104,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets reduced their price target on DXC Technology from $23.00 to $17.50 and set a “market perform” rating on the stock in a report on Friday, May 17th. Guggenheim started coverage on DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price objective for the company. Morgan Stanley cut their price objective on DXC Technology from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Stifel Nicolaus cut their price objective on DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, May 17th. Finally, Royal Bank of Canada cut their price objective on DXC Technology from $24.00 to $18.00 and set a “sector perform” rating for the company in a research report on Friday, May 17th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.14.

DXC Technology Stock Performance

NYSE DXC opened at $17.85 on Friday. The company has a market cap of $3.19 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.14 and a beta of 1.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a 50-day moving average of $18.54 and a two-hundred day moving average of $20.94. DXC Technology has a 1-year low of $14.78 and a 1-year high of $28.89.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, May 16th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. DXC Technology’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.02 EPS. As a group, analysts anticipate that DXC Technology will post 2.73 EPS for the current year.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions 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).