Heritage Investors Management Corp Sells 835 Shares of DXC Technology (NYSE:DXC)

Heritage Investors Management Corp cut its stake in DXC Technology (NYSE:DXC) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,744 shares of the company’s stock after selling 835 shares during the period. Heritage Investors Management Corp’s holdings in DXC Technology were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in DXC Technology by 3,525.9% in the fourth quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after purchasing an additional 2,045 shares during the period. GAMMA Investing LLC bought a new position in DXC Technology during the fourth quarter worth about $49,000. Headlands Technologies LLC bought a new stake in shares of DXC Technology in the 3rd quarter valued at approximately $67,000. NBC Securities Inc. bought a new position in shares of DXC Technology during the 3rd quarter worth approximately $94,000. Finally, Savant Capital LLC acquired a new stake in DXC Technology in the 4th quarter valued at $207,000. 96.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DXC. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and cut their target price for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. Guggenheim began coverage on DXC Technology in a report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price objective on shares of DXC Technology in a report on Friday, February 2nd. Finally, Citigroup downgraded shares of DXC Technology from a “neutral” rating to a “sell” rating and dropped 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 given a hold rating to the stock. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Hold” and a consensus target price of $23.20.

Insider Buying and Selling at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the completion of 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 SEC, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

DXC Technology Stock Down 1.4 %

Shares of NYSE:DXC traded down $0.28 during trading on Thursday, hitting $19.62. 1,403,377 shares of the company’s stock traded hands, compared to its average volume of 2,329,097. The company has a 50-day moving average price of $20.56 and a 200-day moving average price of $21.79. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -10.41, a price-to-earnings-growth ratio of 1.72 and a beta of 1.85. 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 52 week low of $18.61 and a 52 week high of $28.89.

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).