9,906 Shares in DXC Technology (NYSE:DXC) Acquired by AIA Group Ltd

AIA Group Ltd purchased a new position in DXC Technology (NYSE:DXC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,906 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also made changes to their positions in the stock. Quarry LP acquired a new position in DXC Technology during the 2nd quarter worth $25,000. Belpointe Asset Management LLC boosted its position in DXC Technology by 656.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock worth $29,000 after acquiring an additional 998 shares during the period. Lazard Asset Management LLC boosted its position in DXC Technology by 163.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company’s stock worth $34,000 after acquiring an additional 815 shares during the period. Coppell Advisory Solutions LLC acquired a new position in DXC Technology during the 2nd quarter worth $41,000. Finally, Versant Capital Management Inc boosted its position in DXC Technology by 3,525.9% during the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,045 shares during the period. Institutional investors own 96.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DXC. Citigroup lowered DXC Technology from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $24.00 to $21.00 in a research 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 research note on Friday, February 2nd. Guggenheim initiated coverage on DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $27.00 to $24.00 in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $23.20.

Insider Activity at DXC Technology

In related 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 transaction of $393,356.46. Following the transaction, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at $2,712,034.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.87% of the stock is owned by insiders.

DXC Technology Price Performance

Shares of DXC Technology stock opened at $20.14 on Friday. The stock’s fifty day moving average is $20.98 and its 200-day moving average is $21.92. 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 12-month low of $18.61 and a 12-month high of $28.89.

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

About DXC Technology

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).