M&G Investment Management Ltd. decreased its stake in shares of DXC Technology (NYSE:DXC) by 19.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 304,662 shares of the company’s stock after selling 74,099 shares during the quarter. M&G Investment Management Ltd.’s holdings in DXC Technology were worth $9,445,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its position in DXC Technology by 188.3% during the first quarter. IFP Advisors Inc now owns 810 shares of the company’s stock worth $25,000 after purchasing an additional 529 shares during the last quarter. CWM LLC grew 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 purchasing an additional 360 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake 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 last quarter. Vantage Consulting Group Inc bought a new position in DXC Technology during the 4th quarter valued at $57,000. Finally, Clarus Group Inc. bought a new position in DXC Technology during the 1st quarter valued at $106,000. 82.94% of the stock is owned by hedge funds and other institutional investors.
In other DXC Technology news, Director Raul J. Fernandez purchased 2,517 shares of the stock in a transaction on Wednesday, June 2nd. The shares were purchased at an average price of $39.73 per share, with a total value of $100,000.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.01% of the company’s stock.
DXC Technology (NYSE:DXC) last released its quarterly earnings results on Tuesday, May 25th. The company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.04. DXC Technology had a negative net margin of 0.84% and a positive return on equity of 11.89%. On average, analysts expect that DXC Technology will post 3.54 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the stock. BMO Capital Markets raised their price target on shares of DXC Technology from $31.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, May 21st. Wells Fargo & Company raised shares of DXC Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $26.00 to $48.00 in a research note on Wednesday, June 2nd. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft raised shares of DXC Technology from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $28.00 to $44.00 in a research note on Tuesday, March 30th. Finally, Bank of America raised shares of DXC Technology from an “underperform” rating to a “neutral” rating and set a $27.00 price objective on the stock in a research note on Friday, February 19th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.44.
About DXC Technology
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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