Argyle Capital Management Inc. Sells 5,429 Shares of DXC Technology (NYSE:DXC)

Argyle Capital Management Inc. trimmed its stake in DXC Technology (NYSE:DXC) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,461 shares of the company’s stock after selling 5,429 shares during the quarter. Argyle Capital Management Inc.’s holdings in DXC Technology were worth $811,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in DXC Technology by 3,525.9% during the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock valued at $48,000 after buying an additional 2,045 shares during the period. GAMMA Investing LLC purchased a new position in shares of DXC Technology during the fourth quarter valued at approximately $49,000. Headlands Technologies LLC bought a new stake in DXC Technology during the third quarter valued at approximately $67,000. NBC Securities Inc. bought a new stake in DXC Technology during the third quarter valued at approximately $94,000. Finally, CWM LLC boosted its position in shares of DXC Technology by 108.4% in the third quarter. CWM LLC now owns 6,952 shares of the company’s stock worth $145,000 after purchasing an additional 3,616 shares during the period. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DXC has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of DXC Technology in a research note on Friday, February 2nd. JPMorgan Chase & Co. lowered shares of DXC Technology from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $27.00 to $24.00 in a research report on Wednesday, January 24th. Guggenheim started coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target on the stock. Finally, Citigroup cut shares of DXC Technology from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.20.

Insiders Place Their Bets

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.87% of the company’s stock.

DXC Technology Stock Down 1.4 %

DXC stock traded down $0.29 during midday trading on Friday, hitting $20.08. 1,338,298 shares of the company’s stock were exchanged, compared to its average volume of 1,447,324. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of -10.51, a price-to-earnings-growth ratio of 1.81 and a beta of 1.85. The firm has a 50 day moving average price of $20.85 and a 200-day moving average price of $21.89. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. DXC Technology has a 12-month low of $18.61 and a 12-month high of $28.89.

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

About DXC Technology

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).