Paralel Advisors LLC Makes New $2.05 Million Investment in DXC Technology (NYSE:DXC)

Paralel Advisors LLC purchased a new stake in DXC Technology (NYSE:DXC) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 107,594 shares of the company’s stock, valued at approximately $2,054,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DXC. Mather Group LLC. increased its holdings in DXC Technology by 55.0% in the second quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock valued at $35,000 after buying an additional 581 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of DXC Technology by 40.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock worth $37,000 after acquiring an additional 559 shares during the period. Family Firm Inc. purchased a new position in DXC Technology in the 2nd quarter valued at approximately $37,000. Quarry LP purchased a new position in DXC Technology in the 4th quarter valued at approximately $51,000. Finally, Quest Partners LLC purchased a new stake in DXC Technology during the fourth quarter worth $104,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mary E. Finch sold 31,047 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.36, for a total transaction of $601,069.92. Following the completion of the sale, the executive vice president now directly owns 325,665 shares of the company’s stock, valued at approximately $6,304,874.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

DXC Technology Trading Down 1.4 %

Shares of DXC Technology stock traded down $0.30 during trading hours on Friday, reaching $20.82. 1,682,533 shares of the company’s stock were exchanged, compared to its average volume of 2,351,832. DXC Technology has a 52-week low of $14.78 and a 52-week high of $25.14. The company has a fifty day moving average of $19.59 and a 200-day moving average of $19.47. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 56.27, a price-to-earnings-growth ratio of 1.81 and a beta of 1.67.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, August 8th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.17. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.14 billion. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. Sell-side analysts forecast that DXC Technology will post 2.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DXC. Stifel Nicolaus dropped their price target on DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, May 17th. BMO Capital Markets lifted their target price on shares of DXC Technology from $17.50 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada upped their price target on shares of DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. TD Cowen dropped their price objective on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, May 21st. Finally, JPMorgan Chase & Co. increased their target price on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Friday. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.30.

DXC Technology Company Profile

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