Todd Asset Management LLC Acquires Shares of 971,148 DXC Technology (NYSE:DXC)

Todd Asset Management LLC bought a new stake in shares of DXC Technology (NYSE:DXC) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 971,148 shares of the company’s stock, valued at approximately $22,210,000. Todd Asset Management LLC owned about 0.50% of DXC Technology as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of DXC Technology by 9.5% during the third quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock worth $355,784,000 after purchasing an additional 1,478,484 shares during the period. Pacer Advisors Inc. increased its stake in shares of DXC Technology by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after acquiring an additional 3,827,176 shares during the last quarter. LSV Asset Management raised its position in shares of DXC Technology by 0.7% in the 3rd quarter. LSV Asset Management now owns 3,553,327 shares of the company’s stock valued at $74,016,000 after acquiring an additional 25,579 shares during the period. Ameriprise Financial Inc. boosted its stake in DXC Technology by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock worth $62,342,000 after acquiring an additional 8,235 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in DXC Technology by 21.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,541,257 shares of the company’s stock valued at $52,934,000 after purchasing an additional 455,115 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DXC shares. Citigroup lowered shares of DXC Technology from a “neutral” rating to a “sell” rating and cut their target price for the stock from $24.00 to $21.00 in a report on Wednesday, January 17th. Guggenheim assumed coverage on DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 target price for the company. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of DXC Technology in a report on Friday, February 2nd. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.20.

DXC Technology Stock Up 1.4 %

DXC Technology stock traded up $0.26 during mid-day trading on Friday, reaching $19.16. The company’s stock had a trading volume of 1,510,385 shares, compared to its average volume of 1,545,754. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. DXC Technology has a 12 month low of $18.61 and a 12 month high of $28.89. The business’s 50 day simple moving average is $20.68 and its 200 day simple moving average is $21.81. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of -10.03, a price-to-earnings-growth ratio of 1.72 and a beta of 1.85.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.10. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same quarter last year, the company earned $0.95 EPS. DXC Technology’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, research analysts anticipate that DXC Technology will post 3.03 earnings per share for the current year.

Insider Activity at DXC Technology

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at $2,712,034.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is owned by company insiders.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).