Millennium Management LLC Purchases 487,072 Shares of DXC Technology (NYSE:DXC)

Millennium Management LLC grew its stake in shares of DXC Technology (NYSE:DXC - Free Report) by 352.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 625,197 shares of the company's stock after buying an additional 487,072 shares during the period. Millennium Management LLC owned 0.35% of DXC Technology worth $11,935,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DXC. Pacer Advisors Inc. increased its position in shares of DXC Technology by 30.4% in the second 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. Glenview Capital Management LLC increased its position in shares of DXC Technology by 33.6% in the fourth quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company's stock worth $297,461,000 after purchasing an additional 3,272,212 shares during the last quarter. FIL Ltd increased its position in shares of DXC Technology by 4.2% in the fourth quarter. FIL Ltd now owns 6,598,101 shares of the company's stock worth $150,899,000 after purchasing an additional 267,480 shares during the last quarter. American Century Companies Inc. increased its position in shares of DXC Technology by 20.8% in the second quarter. American Century Companies Inc. now owns 3,991,295 shares of the company's stock worth $76,194,000 after purchasing an additional 687,522 shares during the last quarter. Finally, LSV Asset Management increased its position in shares of DXC Technology by 0.8% in the second quarter. LSV Asset Management now owns 3,436,128 shares of the company's stock worth $65,596,000 after purchasing an additional 26,186 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Mary E. Finch sold 31,047 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the completion of the sale, the executive vice president now owns 325,665 shares of the company's stock, valued at approximately $6,304,874.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, SVP Christopher Anthony Voci sold 2,500 shares of the firm's stock in a transaction on Friday, September 13th. The stock was 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 of the company's stock, valued at $1,789,652.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mary E. Finch sold 31,047 shares of the firm's stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.36, for a total value of $601,069.92. Following the completion of the sale, the executive vice president now directly owns 325,665 shares of the company's stock, valued at $6,304,874.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DXC shares. BMO Capital Markets upped their price objective on shares of DXC Technology from $17.50 to $22.00 and gave the stock a "market perform" rating in a research report on Friday, August 9th. Royal Bank of Canada upped their target price on DXC Technology from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their target price on DXC Technology from $19.00 to $22.00 and gave the stock an "underweight" rating in a research note on Friday, September 6th. Finally, Susquehanna upped their target price on DXC Technology from $15.00 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, DXC Technology presently has a consensus rating of "Hold" and an average target price of $20.30.

DXC Technology Trading Down 0.3 %

Shares of NYSE:DXC traded down $0.07 during trading on Tuesday, reaching $20.47. 938,681 shares of the company traded hands, compared to its average volume of 2,242,215. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 55.31, a P/E/G ratio of 1.83 and a beta of 1.67. DXC Technology has a 52-week low of $14.78 and a 52-week high of $25.14. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.21. The business's fifty day moving average is $20.25 and its 200-day moving average is $19.42.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.74 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.17. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.14 billion. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. As a group, analysts forecast that DXC Technology will post 2.89 EPS for the current year.

DXC Technology Company 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).