ExodusPoint Capital Management LP Boosts Stock Holdings in DXC Technology (NYSE:DXC)

Posted by on Jun 8th, 2023

ExodusPoint Capital Management LP grew its position in shares of DXC Technology (NYSE:DXC – Get Rating) by 222.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 95,153 shares of the company’s stock after acquiring an additional 65,608 shares during the quarter. ExodusPoint Capital Management LP’s holdings in DXC Technology were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXC. Ronald Blue Trust Inc. raised its stake in DXC Technology by 352.0% in the 4th quarter. Ronald Blue Trust Inc. now owns 1,234 shares of the company’s stock valued at $30,000 after acquiring an additional 961 shares during the period. Lansing Street Advisors purchased a new stake in DXC Technology in the fourth quarter valued at approximately $47,000. IFP Advisors Inc raised its stake in DXC Technology by 30.5% in the third quarter. IFP Advisors Inc now owns 2,477 shares of the company’s stock valued at $212,000 after purchasing an additional 579 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of DXC Technology during the fourth quarter worth approximately $72,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of DXC Technology during the fourth quarter worth approximately $75,000. 89.19% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Price Performance

Shares of NYSE DXC opened at $26.72 on Thursday. The stock’s 50-day moving average is $24.34 and its two-hundred day moving average is $26.35. The company has a market cap of $5.65 billion, a price-to-earnings ratio of -10.36, a price-to-earnings-growth ratio of 0.84 and a beta of 1.95. DXC Technology has a 1-year low of $22.11 and a 1-year high of $36.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.18 and a quick ratio of 1.18.

DXC Technology (NYSE:DXC – Get Rating) last posted its quarterly earnings data on Thursday, May 18th. The company reported $1.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.02. The company had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.62 billion. DXC Technology had a positive return on equity of 17.23% and a negative net margin of 3.94%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period last year, the firm earned $0.84 EPS. Analysts forecast that DXC Technology will post 3.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DXC has been the topic of several recent analyst reports. TheStreet cut shares of DXC Technology from a “b-” rating to a “c-” rating in a report on Thursday, May 18th. Morgan Stanley reduced their price target on shares of DXC Technology from $27.00 to $25.00 in a research report on Friday, May 19th. BMO Capital Markets cut their price objective on DXC Technology from $33.00 to $27.00 in a research note on Friday, May 19th. Stifel Nicolaus dropped their price target on DXC Technology from $30.00 to $25.00 in a research note on Friday, May 19th. Finally, Royal Bank of Canada lowered their target price on DXC Technology from $38.00 to $34.00 in a research report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, DXC Technology has an average rating of “Hold” and a consensus target price of $31.75.

About DXC Technology

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

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

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