SEB Asset Management AB Invests $12.10 Million in DXC Technology Company. $DXC

SEB Asset Management AB purchased a new position in shares of DXC Technology Company. (NYSE:DXC) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 962,856 shares of the company’s stock, valued at approximately $12,103,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in DXC Technology by 97.0% in the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after purchasing an additional 1,936,726 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of DXC Technology by 2,316.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after purchasing an additional 1,505,069 shares in the last quarter. UBS Group AG raised its stake in shares of DXC Technology by 131.2% during the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock worth $27,906,000 after purchasing an additional 1,161,879 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of DXC Technology by 1,156.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after buying an additional 1,042,409 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of DXC Technology by 7,434.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 823,161 shares of the company’s stock valued at $12,059,000 after buying an additional 812,236 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DXC has been the subject of several recent research reports. Stifel Nicolaus set a $12.00 price target on DXC Technology in a research note on Friday, May 8th. Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. TD Cowen dropped their price target on shares of DXC Technology from $11.00 to $10.00 and set a “hold” rating on the stock in a research note on Thursday, July 9th. Finally, Morgan Stanley dropped their price target on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, DXC Technology has a consensus rating of “Reduce” and a consensus target price of $12.25.

Insider Activity at DXC Technology

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

DXC Technology Stock Performance

Shares of NYSE DXC opened at $9.34 on Tuesday. The business’s 50-day simple moving average is $9.17 and its 200-day simple moving average is $11.69. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.36 and a current ratio of 1.36. DXC Technology Company. has a 52 week low of $7.90 and a 52 week high of $15.68. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 155.58 and a beta of 0.82.

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

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.