Louisiana State Employees Retirement System Makes New Investment in DXC Technology Company. $DXC

Louisiana State Employees Retirement System acquired a new stake in DXC Technology Company. (NYSE:DXC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 75,300 shares of the company’s stock, valued at approximately $947,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in shares of DXC Technology by 28.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company’s stock worth $10,127,000 after buying an additional 162,958 shares during the period. Assenagon Asset Management S.A. grew its stake in DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock valued at $23,001,000 after acquiring an additional 1,505,069 shares during the period. SG Americas Securities LLC increased its holdings in DXC Technology by 1,171.6% in the 4th quarter. SG Americas Securities LLC now owns 752,329 shares of the company’s stock worth $11,022,000 after acquiring an additional 693,167 shares in the last quarter. CastleKnight Management LP increased its holdings in DXC Technology by 344.7% in the 4th quarter. CastleKnight Management LP now owns 324,651 shares of the company’s stock worth $4,756,000 after acquiring an additional 251,651 shares in the last quarter. Finally, Waterfront Wealth Inc. raised its position in DXC Technology by 55.4% during the fourth quarter. Waterfront Wealth Inc. now owns 220,922 shares of the company’s stock worth $3,285,000 after acquiring an additional 78,730 shares during the period. Institutional investors own 96.20% of the company’s stock.

Insider Activity

In related news, CEO Raul J. Fernandez purchased 28,051 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $8.90 per share, for a total transaction of $249,653.90. Following the completion of the transaction, the chief executive officer directly owned 844,052 shares of the company’s stock, valued at approximately $7,512,062.80. This trade represents a 3.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DXC. Weiss Ratings lowered shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of DXC Technology in a research note on Friday, June 12th. Zacks Research cut DXC Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. TD Cowen cut their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, DXC Technology has an average rating of “Reduce” and an average price target of $12.75.

DXC Technology Price Performance

Shares of NYSE DXC opened at $9.88 on Monday. The firm has a 50-day simple moving average of $9.54 and a 200-day simple moving average of $12.13. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 164.65 and a beta of 0.82. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94. DXC Technology Company. has a 52 week low of $7.90 and a 52 week high of $16.45.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same period in the previous year, the business posted $0.84 earnings per share. DXC Technology’s quarterly revenue was down 1.2% on a year-over-year basis. On average, equities analysts predict that DXC Technology Company. will post 2.62 earnings per share for the current fiscal year.

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.