Mackenzie Financial Corp Increases Stock Holdings in DXC Technology (NYSE:DXC)

Mackenzie Financial Corp raised its stake in DXC Technology (NYSE:DXC) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,010,463 shares of the company’s stock after purchasing an additional 59,588 shares during the period. Mackenzie Financial Corp owned 0.52% of DXC Technology worth $23,109,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DXC. American Century Companies Inc. increased its stake in DXC Technology by 52.2% in the first quarter. American Century Companies Inc. now owns 80,959 shares of the company’s stock valued at $2,641,000 after purchasing an additional 27,781 shares during the last quarter. US Bancorp DE boosted its holdings in shares of DXC Technology by 10.6% in the first quarter. US Bancorp DE now owns 20,835 shares of the company’s stock valued at $681,000 after acquiring an additional 1,993 shares during the period. HighTower Advisors LLC boosted its holdings in shares of DXC Technology by 11.7% in the first quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock valued at $284,000 after acquiring an additional 921 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of DXC Technology by 432.5% in the first quarter. Acadian Asset Management LLC now owns 16,497 shares of the company’s stock valued at $538,000 after acquiring an additional 13,399 shares during the period. Finally, MetLife Investment Management LLC boosted its holdings in shares of DXC Technology by 19.3% in the first quarter. MetLife Investment Management LLC now owns 66,501 shares of the company’s stock valued at $2,170,000 after acquiring an additional 10,773 shares during the period. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Performance

Shares of DXC opened at $19.79 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. DXC Technology has a 52-week low of $18.61 and a 52-week high of $28.89. The company has a 50-day simple moving average of $21.07 and a 200-day simple moving average of $21.95. The company has a market capitalization of $3.62 billion, a PE ratio of -10.36, a P/E/G ratio of 1.80 and a beta of 1.85.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. Equities research analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the completion of the transaction, the executive vice president now owns 124,806 shares in the company, valued at $2,712,034.38. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.87% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DXC has been the subject of several research analyst reports. Citigroup downgraded DXC Technology from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $24.00 to $21.00 in a report on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of DXC Technology in a report on Friday, February 2nd. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Guggenheim assumed coverage on DXC Technology in a report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price target for the company. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.20.

DXC Technology Company Profile

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).