Montgomery Investment Management Inc. lowered its holdings in DXC Technology (NYSE:DXC – Get Rating) by 22.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,599 shares of the company’s stock after selling 2,829 shares during the period. Montgomery Investment Management Inc.’s holdings in DXC Technology were worth $309,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its holdings in shares of DXC Technology by 166.6% during the third quarter. First Horizon Advisors Inc. now owns 909 shares of the company’s stock valued at $31,000 after buying an additional 568 shares during the last quarter. Spire Wealth Management grew its position in DXC Technology by 59.6% in the third quarter. Spire Wealth Management now owns 1,312 shares of the company’s stock worth $44,000 after buying an additional 490 shares during the last quarter. Assetmark Inc. grew its position in DXC Technology by 105.2% in the third quarter. Assetmark Inc. now owns 1,426 shares of the company’s stock worth $48,000 after buying an additional 731 shares during the last quarter. Herold Advisors Inc. purchased a new position in DXC Technology during the 3rd quarter worth approximately $50,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in DXC Technology by 20.8% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,767 shares of the company’s stock worth $59,000 after purchasing an additional 304 shares in the last quarter. 89.16% of the stock is currently owned by institutional investors.
In related news, EVP William L. Deckelman, Jr. sold 53,831 shares of the stock in a transaction dated Monday, February 7th. The shares were sold at an average price of $36.68, for a total transaction of $1,974,521.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Several research firms recently issued reports on DXC. JPMorgan Chase & Co. reduced their price objective on shares of DXC Technology from $41.00 to $39.00 and set an “underweight” rating for the company in a research note on Tuesday. BMO Capital Markets dropped their price objective on shares of DXC Technology from $40.00 to $35.00 in a report on Tuesday, January 25th. Cowen lowered their target price on shares of DXC Technology from $50.00 to $45.00 in a research note on Thursday, February 3rd. Zacks Investment Research raised shares of DXC Technology from a “sell” rating to a “hold” rating and set a $37.00 target price on the stock in a research note on Friday, February 4th. Finally, Bank of America cut shares of DXC Technology from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $45.00 to $30.00 in a research note on Wednesday, March 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, DXC Technology currently has a consensus rating of “Hold” and a consensus price target of $42.25.
Shares of DXC Technology stock traded up $0.77 during midday trading on Friday, hitting $33.54. 1,510,598 shares of the company traded hands, compared to its average volume of 2,889,856. The firm’s fifty day moving average price is $33.03 and its 200-day moving average price is $33.18. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 1.12. DXC Technology has a 12 month low of $25.80 and a 12 month high of $44.18. The stock has a market cap of $8.20 billion, a price-to-earnings ratio of -13.80, a PEG ratio of 0.33 and a beta of 2.24.
DXC Technology (NYSE:DXC – Get Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.92. DXC Technology had a negative net margin of 3.67% and a positive return on equity of 16.81%. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the company earned $0.84 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. Equities research analysts forecast that DXC Technology will post 3.66 earnings per share for the current year.
DXC Technology Company Profile (Get Rating)
DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerate the digital transformations that are tailored to each client’s specific objectives.
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