Point72 Asset Management L.P. Takes $1.44 Million Position in DXC Technology (NYSE:DXC)

Point72 Asset Management L.P. acquired a new stake in DXC Technology (NYSE:DXC - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 69,322 shares of the company's stock, valued at approximately $1,438,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DXC. William B. Walkup & Associates Inc. purchased a new position in shares of DXC Technology in the second quarter valued at $26,000. Fifth Third Bancorp grew its stake in DXC Technology by 40.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company's stock valued at $37,000 after acquiring an additional 559 shares during the last quarter. Family Firm Inc. purchased a new position in DXC Technology during the 2nd quarter valued at about $37,000. Matrix Trust Co acquired a new position in DXC Technology during the third quarter worth about $43,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of DXC Technology in the third quarter valued at about $49,000. 96.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on DXC shares. JPMorgan Chase & Co. lifted their price objective on DXC Technology from $19.00 to $22.00 and gave the stock an "underweight" rating in a research report on Friday, September 6th. BMO Capital Markets raised their price target on DXC Technology from $22.00 to $25.00 and gave the stock a "market perform" rating in a research report on Monday, November 11th. Finally, Susquehanna boosted their price target on DXC Technology from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.89.

DXC Technology Trading Down 1.3 %

Shares of NYSE:DXC traded down $0.29 during midday trading on Wednesday, reaching $21.56. The company's stock had a trading volume of 789,097 shares, compared to its average volume of 2,043,087. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 269.53, a price-to-earnings-growth ratio of 1.44 and a beta of 1.65. The business has a 50 day moving average price of $21.22 and a 200 day moving average price of $19.91. DXC Technology has a 1 year low of $14.78 and a 1 year high of $25.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same quarter in the previous year, the business earned $0.70 EPS. Research analysts forecast that DXC Technology will post 3.18 EPS for the current year.

Insider Buying and Selling

In related news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology 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 transaction, the senior vice president now owns 83,746 shares in the company, valued at approximately $1,789,652.02. This trade represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by company insiders.

DXC Technology 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).