SEB Asset Management AB Purchases New Holdings in DXC Technology Company. $DXC

SEB Asset Management AB acquired a new stake in shares of DXC Technology Company. (NYSE:DXC) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 962,856 shares of the company’s stock, valued at approximately $12,103,000. SEB Asset Management AB owned about 0.57% of DXC Technology as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of DXC. JPMorgan Chase & Co. boosted its stake in shares of DXC Technology by 28.1% in the third quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company’s stock valued at $10,127,000 after buying an additional 162,958 shares in the last quarter. Assenagon Asset Management S.A. raised its position in DXC Technology by 2,316.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after acquiring an additional 1,505,069 shares in the last quarter. SG Americas Securities LLC grew its position in DXC Technology by 1,171.6% during the fourth quarter. SG Americas Securities LLC now owns 752,329 shares of the company’s stock worth $11,022,000 after buying an additional 693,167 shares during the period. CastleKnight Management LP increased its holdings in DXC Technology by 344.7% in the fourth quarter. CastleKnight Management LP now owns 324,651 shares of the company’s stock valued at $4,756,000 after buying an additional 251,651 shares in the last quarter. Finally, Waterfront Wealth Inc. increased its holdings in DXC Technology by 55.4% in the fourth quarter. Waterfront Wealth Inc. now owns 220,922 shares of the company’s stock valued at $3,285,000 after buying an additional 78,730 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Performance

DXC stock opened at $9.34 on Tuesday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.94. DXC Technology Company. has a 12-month low of $7.90 and a 12-month high of $15.68. The stock’s 50 day simple moving average is $9.17 and its 200 day simple moving average is $11.69. The firm has a market cap of $1.53 billion, a P/E ratio of 155.58 and a beta of 0.82.

DXC Technology (NYSE:DXC) last issued its earnings results on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the prior year, the company earned $0.84 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. As a group, equities research analysts predict that DXC Technology Company. will post 2.61 EPS for the current year.

Wall Street Analyst Weigh In

DXC has been the subject of several research reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of DXC Technology in a research note on Friday, June 12th. TD Cowen lowered their target price on shares of DXC Technology from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Stifel Nicolaus set a $12.00 price objective on shares of DXC Technology in a research note on Friday, May 8th. Finally, Morgan Stanley dropped their target price on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 14th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, DXC Technology has a consensus rating of “Reduce” and a consensus target price of $12.25.

Insiders Place Their Bets

In other DXC Technology news, CEO Raul J. Fernandez purchased 28,051 shares of DXC Technology stock in a transaction on Monday, May 11th. The stock was bought at an average price of $8.90 per share, for a total transaction of $249,653.90. Following the transaction, the chief executive officer owned 844,052 shares of the company’s stock, valued at $7,512,062.80. The trade was a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.13% of the stock is owned by insiders.

DXC Technology Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.