Squarepoint Ops LLC Reduces Stock Position in DXC Technology (NYSE:DXC)

Squarepoint Ops LLC lowered its position in shares of DXC Technology (NYSE:DXC) by 75.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 38,988 shares of the company’s stock after selling 119,607 shares during the quarter. Squarepoint Ops LLC’s holdings in DXC Technology were worth $779,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. boosted its position in DXC Technology by 116.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock valued at $33,000 after buying an additional 900 shares during the period. Meeder Asset Management Inc. purchased a new stake in DXC Technology during the 4th quarter valued at $55,000. Smartleaf Asset Management LLC boosted its position in DXC Technology by 366.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock valued at $60,000 after buying an additional 2,356 shares during the period. Brown Lisle Cummings Inc. raised its holdings in DXC Technology by 60.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock worth $64,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Quarry LP raised its holdings in DXC Technology by 604.1% in the 4th quarter. Quarry LP now owns 3,978 shares of the company’s stock worth $79,000 after purchasing an additional 3,413 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DXC shares. BMO Capital Markets decreased their price objective on shares of DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, May 15th. Morgan Stanley decreased their price objective on shares of DXC Technology from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, May 15th. Susquehanna decreased their price target on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on shares of DXC Technology from $27.00 to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Based on data from MarketBeat, DXC Technology currently has an average rating of “Hold” and a consensus price target of $17.00.

DXC Technology Price Performance

NYSE DXC opened at $14.79 on Tuesday. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -35.21, a PEG ratio of 1.16 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 12 month low of $13.44 and a 12 month high of $24.83. The company’s 50 day moving average is $15.45 and its two-hundred day moving average is $18.55.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the business posted $0.97 earnings per share. DXC Technology’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts anticipate that DXC Technology will post 3.35 earnings per share for the current year.

DXC Technology 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).