Wedge Capital Management L L P NC Lowers Stake in DXC Technology (NYSE:DXC)

Wedge Capital Management L L P NC reduced its stake in shares of DXC Technology (NYSE:DXC) by 3.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,897 shares of the company’s stock after selling 2,098 shares during the quarter. Wedge Capital Management L L P NC’s holdings in DXC Technology were worth $1,461,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DXC. CWM LLC raised its holdings in shares of DXC Technology by 108.4% in the third quarter. CWM LLC now owns 6,952 shares of the company’s stock valued at $145,000 after acquiring an additional 3,616 shares in the last quarter. Czech National Bank raised its holdings in shares of DXC Technology by 33.1% in the third quarter. Czech National Bank now owns 35,861 shares of the company’s stock valued at $747,000 after acquiring an additional 8,908 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of DXC Technology by 23.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 147,965 shares of the company’s stock valued at $3,082,000 after acquiring an additional 27,839 shares in the last quarter. Xponance Inc. raised its holdings in shares of DXC Technology by 5.0% in the third quarter. Xponance Inc. now owns 36,464 shares of the company’s stock valued at $760,000 after acquiring an additional 1,720 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of DXC Technology by 12.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,127 shares of the company’s stock valued at $878,000 after acquiring an additional 4,798 shares in the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DXC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of DXC Technology in a report on Friday, February 2nd. 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. JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Guggenheim started coverage on shares of DXC Technology in a report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 target price for the company. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, DXC Technology currently has a consensus rating of “Hold” and an average target price of $23.20.

Insider Activity

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares in the company, valued at $2,712,034.38. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

DXC Technology Stock Performance

DXC opened at $20.36 on Friday. DXC Technology has a 52-week low of $18.61 and a 52-week high of $28.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day moving average price is $20.92 and its 200-day moving average price is $21.92.

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

DXC Technology 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).