River Road Asset Management LLC Cuts Stock Holdings in DXC Technology (NYSE:DXC)

River Road Asset Management LLC reduced its stake in DXC Technology (NYSE:DXC) by 77.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 331,054 shares of the company’s stock after selling 1,131,468 shares during the period. River Road Asset Management LLC owned approximately 0.17% of DXC Technology worth $7,571,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DXC. State of Alaska Department of Revenue grew its position in shares of DXC Technology by 388.6% during the fourth quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock valued at $2,724,000 after purchasing an additional 94,748 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in DXC Technology by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock valued at $62,342,000 after buying an additional 8,235 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in DXC Technology by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 63,800 shares of the company’s stock worth $1,329,000 after acquiring an additional 5,735 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of DXC Technology by 165.1% during the 4th quarter. SG Americas Securities LLC now owns 82,550 shares of the company’s stock worth $1,888,000 after acquiring an additional 51,409 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of DXC Technology by 338.4% during the 3rd quarter. Schroder Investment Management Group now owns 434,204 shares of the company’s stock valued at $9,044,000 after acquiring an additional 335,161 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Insiders Place Their Bets

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the company’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 sale, the executive vice president now directly owns 124,806 shares in the company, valued at approximately $2,712,034.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

DXC Technology Stock Performance

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. The stock’s 50 day moving average price is $21.07 and its 200-day moving average price is $21.95. DXC Technology has a one year low of $18.61 and a one year high of $28.89.

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 firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The business’s revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, sell-side analysts forecast that DXC Technology will post 3.03 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $27.00 to $24.00 in a research report on Wednesday, January 24th. 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 on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Finally, 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 research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.20.

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).