M&G Investment Management Ltd. Reduces Holdings in DXC Technology (NYSE:DXC)

M&G Investment Management Ltd. lessened its position in shares of DXC Technology (NYSE:DXC) by 19.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,662 shares of the company’s stock after selling 74,099 shares during the period. M&G Investment Management Ltd. owned 0.12% of DXC Technology worth $9,445,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. IFP Advisors Inc increased its stake in DXC Technology by 188.3% in the 1st quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $25,000 after acquiring an additional 529 shares during the last quarter. CWM LLC boosted its holdings in DXC Technology by 36.8% during the 1st quarter. CWM LLC now owns 1,337 shares of the company’s stock valued at $42,000 after acquiring an additional 360 shares during the period. Daiwa Securities Group Inc. boosted its holdings in DXC Technology by 70.7% during the 1st quarter. Daiwa Securities Group Inc. now owns 1,478 shares of the company’s stock valued at $46,000 after acquiring an additional 612 shares during the period. Vantage Consulting Group Inc purchased a new stake in DXC Technology during the 4th quarter valued at about $57,000. Finally, Regent Peak Wealth Advisors LLC purchased a new stake in DXC Technology in the 4th quarter worth approximately $160,000. Institutional investors own 82.94% of the company’s stock.

Shares of DXC Technology stock opened at $41.27 on Friday. The firm has a 50-day simple moving average of $34.80. DXC Technology has a 52 week low of $14.73 and a 52 week high of $41.61. The stock has a market capitalization of $10.52 billion, a P/E ratio of -66.56, a price-to-earnings-growth ratio of 0.42 and a beta of 2.44. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.82.

DXC Technology (NYSE:DXC) last issued its earnings results on Tuesday, May 25th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. DXC Technology had a positive return on equity of 11.89% and a negative net margin of 0.84%. Analysts forecast that DXC Technology will post 3.54 earnings per share for the current year.

Several brokerages have recently issued reports on DXC. Deutsche Bank Aktiengesellschaft raised DXC Technology from a “hold” rating to a “buy” rating and increased their target price for the stock from $28.00 to $44.00 in a research report on Tuesday, March 30th. Wells Fargo & Company raised DXC Technology from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $26.00 to $48.00 in a research report on Wednesday, June 2nd. They noted that the move was a valuation call. Bank of America raised DXC Technology from an “underperform” rating to a “neutral” rating and set a $27.00 target price for the company in a research report on Friday, February 19th. Finally, BMO Capital Markets raised their price objective on DXC Technology from $31.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, May 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.44.

In other DXC Technology news, Director Raul J. Fernandez bought 2,517 shares of the company’s stock in a transaction on Wednesday, June 2nd. The stock was acquired at an average price of $39.73 per share, for a total transaction of $100,000.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.01% of the company’s stock.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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