Marshall Wace LLP lifted its stake in DXC Technology (NYSE:DXC – Get Rating) by 39.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 246,049 shares of the company’s stock after purchasing an additional 69,183 shares during the quarter. Marshall Wace LLP owned about 0.11% of DXC Technology worth $6,022,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. M&T Bank Corp increased its holdings in shares of DXC Technology by 2.5% in the second quarter. M&T Bank Corp now owns 16,255 shares of the company’s stock valued at $470,000 after purchasing an additional 399 shares during the last quarter. Cetera Advisor Networks LLC grew its position in DXC Technology by 3.9% in the second quarter. Cetera Advisor Networks LLC now owns 10,681 shares of the company’s stock worth $323,000 after acquiring an additional 401 shares during the period. Asset Management One Co. Ltd. grew its position in DXC Technology by 30.0% in the third quarter. Asset Management One Co. Ltd. now owns 1,832 shares of the company’s stock worth $44,000 after acquiring an additional 423 shares during the period. Texas Permanent School Fund grew its position in DXC Technology by 1.5% in the second quarter. Texas Permanent School Fund now owns 32,176 shares of the company’s stock worth $975,000 after acquiring an additional 465 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in DXC Technology by 0.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 68,824 shares of the company’s stock worth $1,689,000 after acquiring an additional 478 shares during the period. Institutional investors and hedge funds own 89.19% of the company’s stock.
Insider Activity
In other news, EVP William L. Deckelman, Jr. sold 33,331 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $29.05, for a total value of $968,265.55. Following the sale, the executive vice president now directly owns 157,128 shares in the company, valued at $4,564,568.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.47% of the company’s stock.
DXC Technology Stock Down 3.3 %
DXC Technology (NYSE:DXC – Get Rating) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.57 billion. DXC Technology had a return on equity of 15.44% and a net margin of 4.84%. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm earned $0.92 earnings per share. As a group, equities analysts predict that DXC Technology will post 3.47 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on DXC shares. Moffett Nathanson lowered DXC Technology from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $32.00 to $28.00 in a research report on Thursday, January 19th. Morgan Stanley lowered their price objective on DXC Technology from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Friday, January 27th. JPMorgan Chase & Co. upgraded DXC Technology from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $31.00 to $33.00 in a research report on Thursday, December 15th. TheStreet upgraded DXC Technology from a “c” rating to a “b-” rating in a research report on Wednesday, February 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on DXC Technology from $48.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $33.45.
DXC Technology Company Profile
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.
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