BNP Paribas Financial Markets Cuts Stake in DXC Technology (NYSE:DXC)

BNP Paribas Financial Markets reduced its position in DXC Technology (NYSE:DXC) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,183 shares of the company’s stock after selling 183,751 shares during the quarter. BNP Paribas Financial Markets owned about 0.28% of DXC Technology worth $11,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DXC. Benjamin F. Edwards & Company Inc. grew its holdings in shares of DXC Technology by 1.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 28,500 shares of the company’s stock valued at $652,000 after buying an additional 500 shares during the last quarter. Covestor Ltd lifted its position in DXC Technology by 2.9% during the third quarter. Covestor Ltd now owns 27,804 shares of the company’s stock valued at $579,000 after purchasing an additional 785 shares during the period. New Mexico Educational Retirement Board lifted its position in DXC Technology by 7.2% during the third quarter. New Mexico Educational Retirement Board now owns 11,846 shares of the company’s stock valued at $247,000 after purchasing an additional 800 shares during the period. Equitable Trust Co. lifted its position in DXC Technology by 6.9% during the fourth quarter. Equitable Trust Co. now owns 16,288 shares of the company’s stock valued at $373,000 after purchasing an additional 1,045 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its position in DXC Technology by 2.2% during the third quarter. OMERS ADMINISTRATION Corp now owns 51,800 shares of the company’s stock valued at $1,079,000 after purchasing an additional 1,100 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of research analysts recently issued reports on DXC shares. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of DXC Technology in a research report on Friday, February 2nd. JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. Finally, Guggenheim started coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price for the company. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.20.

DXC Technology Trading Up 0.7 %

Shares of DXC Technology stock opened at $19.88 on Friday. DXC Technology has a fifty-two week low of $18.61 and a fifty-two week high of $28.89. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50-day simple moving average of $20.41 and a two-hundred day simple moving average of $21.77. The company has a market cap of $3.63 billion, a P/E ratio of -10.41, a price-to-earnings-growth ratio of 1.76 and a beta of 1.85.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, May 16th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.14. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.

DXC Technology Profile

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).