First Trust Advisors LP Has $18.61 Million Stock Position in DXC Technology (NYSE:DXC)

Posted by Defense World Staff on Mar 10th, 2023

First Trust Advisors LP reduced its stake in shares of DXC Technology (NYSE:DXC – Get Rating) by 29.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 760,239 shares of the company’s stock after selling 318,095 shares during the period. First Trust Advisors LP owned about 0.33% of DXC Technology worth $18,610,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new position in shares of DXC Technology in the third quarter valued at approximately $79,186,000. Point72 Asset Management L.P. purchased a new position in DXC Technology in the third quarter valued at approximately $33,834,000. Cantor Fitzgerald L. P. purchased a new position in DXC Technology in the third quarter valued at approximately $30,653,000. Victory Capital Management Inc. lifted its stake in DXC Technology by 13.4% in the third quarter. Victory Capital Management Inc. now owns 9,285,409 shares of the company’s stock valued at $227,306,000 after purchasing an additional 1,096,344 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of DXC Technology by 52.6% during the third quarter. Pacer Advisors Inc. now owns 1,857,895 shares of the company’s stock worth $45,481,000 after acquiring an additional 640,276 shares in the last quarter. 89.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on DXC Technology from $48.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 2nd. Morgan Stanley reduced their target price on DXC Technology from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Friday, January 27th. Moffett Nathanson cut DXC Technology from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $32.00 to $28.00 in a research note on Thursday, January 19th. TheStreet raised DXC Technology from a “c” rating to a “b-” rating in a research note on Wednesday, February 1st. Finally, JPMorgan Chase & Co. raised DXC Technology from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $31.00 to $33.00 in a research note on Thursday, December 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.45.

Insiders Place Their Bets

In related news, EVP William L. Deckelman, Jr. sold 33,331 shares of DXC Technology stock in a transaction dated Thursday, February 9th. The shares were sold at an average price of $29.05, for a total transaction of $968,265.55. Following the completion of the sale, the executive vice president now owns 157,128 shares in the company, valued at approximately $4,564,568.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.47% of the company’s stock.

DXC Technology Price Performance

Shares of NYSE DXC opened at $26.39 on Friday. DXC Technology has a twelve month low of $22.65 and a twelve month high of $36.00. The firm has a market cap of $6.01 billion, a P/E ratio of 8.98, a PEG ratio of 0.98 and a beta of 1.95. The company has a 50 day moving average of $28.30 and a 200 day moving average of $27.60. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.78.

DXC Technology (NYSE:DXC – Get Rating) last released its quarterly earnings results on Wednesday, February 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.11. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. DXC Technology had a return on equity of 15.44% and a net margin of 4.84%. DXC Technology’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, research analysts expect that DXC Technology will post 3.47 EPS for the current fiscal year.

About DXC Technology

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DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerate the digital transformations that are tailored to each client’s specific objectives.

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

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