Victory Capital Management Inc. Cuts Position in DXC Technology (NYSE:DXC)

Victory Capital Management Inc. lowered its position in shares of DXC Technology (NYSE:DXC) by 4.3% in the third quarter, Holdings Channel.com reports. The fund owned 75,130 shares of the company’s stock after selling 3,402 shares during the quarter. Victory Capital Management Inc.’s holdings in DXC Technology were worth $1,559,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its stake in shares of DXC Technology by 30.4% in the 2nd quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock valued at $367,310,000 after buying an additional 4,489,924 shares during the period. American Century Companies Inc. increased its position in shares of DXC Technology by 20.8% during the second quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock worth $76,194,000 after purchasing an additional 687,522 shares in the last quarter. LSV Asset Management grew its position in shares of DXC Technology by 0.8% during the second quarter. LSV Asset Management now owns 3,436,128 shares of the company’s stock worth $65,596,000 after acquiring an additional 26,186 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of DXC Technology by 11.3% in the second quarter. AQR Capital Management LLC now owns 2,117,753 shares of the company’s stock valued at $39,898,000 after buying an additional 215,692 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of DXC Technology by 12.6% during the second quarter. Bank of New York Mellon Corp now owns 1,704,485 shares of the company’s stock worth $32,539,000 after purchasing an additional 191,101 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DXC. Royal Bank of Canada lifted their price target on DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. BMO Capital Markets increased their price target on shares of DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Susquehanna upped their price target on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.89.

DXC Technology Trading Up 1.3 %

NYSE:DXC opened at $22.59 on Tuesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. DXC Technology has a 12-month low of $14.78 and a 12-month high of $25.14. The business has a 50 day simple moving average of $20.82 and a 200 day simple moving average of $19.53. The firm has a market capitalization of $4.09 billion, a P/E ratio of 282.41, a P/E/G ratio of 1.44 and a beta of 1.67.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same quarter in the previous year, the firm posted $0.70 EPS. Equities research analysts predict that DXC Technology will post 3.18 EPS for the current year.

Insider Transactions at DXC Technology

In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $21.37, for a total value of $53,425.00. Following the transaction, the senior vice president now owns 83,746 shares in the company, valued at $1,789,652.02. The trade was a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

DXC Technology Profile

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).