Bridgewater Associates LP Has $3.98 Million Position in DXC Technology (NYSE:DXC)

Bridgewater Associates LP decreased its stake in DXC Technology (NYSE:DXC) by 40.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,637 shares of the company’s stock after selling 129,358 shares during the period. Bridgewater Associates LP’s holdings in DXC Technology were worth $3,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXC. Pacer Advisors Inc. raised its holdings in DXC Technology by 30.4% during the 2nd quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock worth $367,310,000 after purchasing an additional 4,489,924 shares during the last quarter. Marshall Wace LLP raised its stake in DXC Technology by 1,047.3% during the second quarter. Marshall Wace LLP now owns 820,585 shares of the company’s stock worth $15,665,000 after buying an additional 749,060 shares during the last quarter. American Century Companies Inc. lifted its holdings in DXC Technology by 20.8% in the second quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock valued at $76,194,000 after buying an additional 687,522 shares during the period. Millennium Management LLC boosted its position in DXC Technology by 352.6% during the second quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock valued at $11,935,000 after acquiring an additional 487,072 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in DXC Technology by 3,173.3% during the 2nd quarter. Canada Pension Plan Investment Board now owns 451,712 shares of the company’s stock worth $8,623,000 after acquiring an additional 437,912 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the completion of the sale, the senior vice president now owns 83,746 shares in the company, valued at $1,789,652.02. This represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

DXC Technology Stock Performance

NYSE DXC opened at $22.49 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The company has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $19.61. DXC Technology has a 12-month low of $14.78 and a 12-month high of $25.14. The company has a market cap of $4.07 billion, a P/E ratio of 281.16, a PEG ratio of 1.45 and a beta of 1.67.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same period in the previous year, the firm posted $0.70 earnings per share. Sell-side analysts predict that DXC Technology will post 3.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DXC shares. Royal Bank of Canada upped their target price on DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. Susquehanna raised their price objective on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets raised their price target on shares of DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, DXC Technology presently has an average rating of “Hold” and an average target price of $20.89.

DXC Technology Profile

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