Point72 Asset Management L.P. Buys New Shares in DXC Technology (NYSE:DXC)

Point72 Asset Management L.P. bought a new stake in DXC Technology (NYSE:DXC) in the third quarter, HoldingsChannel reports. The fund bought 69,322 shares of the company’s stock, valued at approximately $1,438,000.

Several other institutional investors also recently bought and sold shares of the business. William B. Walkup & Associates Inc. acquired a new position in shares of DXC Technology during the second quarter worth $26,000. Fifth Third Bancorp increased its stake in DXC Technology by 40.1% during the second quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after purchasing an additional 559 shares during the last quarter. Family Firm Inc. bought a new stake in DXC Technology during the second quarter valued at $37,000. Matrix Trust Co bought a new stake in DXC Technology during the third quarter valued at $43,000. Finally, Prospera Private Wealth LLC bought a new stake in DXC Technology during the third quarter valued at $49,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $21.37, for a total value of $53,425.00. Following the transaction, the senior vice president now owns 83,746 shares in the company, valued at approximately $1,789,652.02. This represents a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.

DXC Technology Price Performance

Shares of DXC opened at $21.85 on Wednesday. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 273.16, a P/E/G ratio of 1.44 and a beta of 1.65. DXC Technology has a fifty-two week low of $14.78 and a fifty-two week high of $25.14. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50-day moving average is $21.19 and its 200-day moving average is $19.90.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.21. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same quarter in the prior year, the company earned $0.70 EPS. Equities research analysts expect that DXC Technology will post 3.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DXC has been the subject of several recent research reports. Susquehanna upped their price target on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, BMO Capital Markets increased their target price on shares of DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.89.

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).