JPMorgan Chase & Co. Boosts Holdings in DXC Technology Company. $DXC

JPMorgan Chase & Co. lifted its holdings in DXC Technology Company. (NYSE:DXC) by 28.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 742,963 shares of the company’s stock after purchasing an additional 162,958 shares during the period. JPMorgan Chase & Co.’s holdings in DXC Technology were worth $10,127,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Waterfront Wealth Inc. boosted its position in DXC Technology by 818.6% in the 3rd quarter. Waterfront Wealth Inc. now owns 142,192 shares of the company’s stock valued at $1,886,000 after buying an additional 126,713 shares during the period. Hsbc Holdings PLC increased its position in shares of DXC Technology by 93.7% during the second quarter. Hsbc Holdings PLC now owns 588,791 shares of the company’s stock worth $9,003,000 after acquiring an additional 284,882 shares during the period. Marex Group plc acquired a new stake in shares of DXC Technology in the second quarter valued at $1,697,000. Vanguard Group Inc. raised its stake in shares of DXC Technology by 3.5% in the third quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock valued at $319,654,000 after acquiring an additional 800,973 shares in the last quarter. Finally, Nierenberg Investment Management Company Inc. boosted its holdings in DXC Technology by 634.5% in the third quarter. Nierenberg Investment Management Company Inc. now owns 99,555 shares of the company’s stock valued at $1,357,000 after purchasing an additional 86,000 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Stock Performance

Shares of DXC stock opened at $11.83 on Friday. The company has a market cap of $2.01 billion, a P/E ratio of 5.08 and a beta of 1.10. The firm has a fifty day moving average price of $13.19 and a 200 day moving average price of $13.67. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. DXC Technology Company. has a 12 month low of $11.54 and a 12 month high of $17.68.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.DXC Technology’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $0.92 earnings per share. Sell-side analysts predict that DXC Technology Company. will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez bought 16,446 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the purchase, the chief executive officer directly owned 816,001 shares in the company, valued at $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DXC shares. Zacks Research cut DXC Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. BMO Capital Markets lifted their price objective on DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the stock an “underperform” rating in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, DXC Technology presently has an average rating of “Reduce” and an average price target of $14.71.

About DXC Technology

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.