Everence Capital Management Inc. Cuts Stock Position in DXC Technology (NYSE:DXC)

Everence Capital Management Inc. cut its holdings in DXC Technology (NYSE:DXC) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,400 shares of the company’s stock after selling 4,090 shares during the quarter. Everence Capital Management Inc.’s holdings in DXC Technology were worth $444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. grew its holdings in shares of DXC Technology by 9.5% in the third quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock valued at $355,784,000 after purchasing an additional 1,478,484 shares in the last quarter. BlackRock Inc. grew its holdings in shares of DXC Technology by 1.0% in the second quarter. BlackRock Inc. now owns 15,840,800 shares of the company’s stock valued at $423,266,000 after purchasing an additional 162,032 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of DXC Technology by 86.8% in the fourth quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after purchasing an additional 3,827,176 shares in the last quarter. State Street Corp grew its holdings in shares of DXC Technology by 2.2% in the second quarter. State Street Corp now owns 8,103,448 shares of the company’s stock valued at $216,524,000 after purchasing an additional 176,003 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of DXC Technology by 0.6% in the first quarter. Geode Capital Management LLC now owns 5,008,256 shares of the company’s stock valued at $127,965,000 after purchasing an additional 30,979 shares in the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DXC Technology

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of DXC Technology stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.87% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DXC. Citigroup downgraded DXC Technology from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $24.00 to $21.00 in a research report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Guggenheim assumed coverage on DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price for the company. Finally, JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $27.00 to $24.00 in a research report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Hold” and a consensus target price of $23.20.

DXC Technology Price Performance

DXC stock opened at $19.79 on Thursday. 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 business has a 50-day moving average price of $21.07 and a 200 day moving average price of $21.95. DXC Technology has a 1-year low of $18.61 and a 1-year high of $28.89.

DXC Technology (NYSE:DXC) last posted its earnings results 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 positive return on equity of 19.00% and a negative net margin of 3.35%. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts anticipate that DXC Technology will post 3.03 earnings per share for the current fiscal year.

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).