Magnetar Financial LLC Takes $639,000 Position in DXC Technology (NYSE:DXC)

Magnetar Financial LLC purchased a new stake in shares of DXC Technology (NYSE:DXC) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 30,147 shares of the company’s stock, valued at approximately $639,000.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of DXC Technology during the 4th quarter valued at approximately $51,000. Principal Financial Group Inc. grew its stake in shares of DXC Technology by 323.0% in the fourth quarter. Principal Financial Group Inc. now owns 997,769 shares of the company’s stock worth $22,819,000 after acquiring an additional 761,884 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of DXC Technology by 11.5% in the first quarter. BNP Paribas Financial Markets now owns 578,934 shares of the company’s stock worth $12,279,000 after acquiring an additional 59,751 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of DXC Technology during the 1st quarter worth $1,452,000. Finally, State of Alaska Department of Revenue lifted its position in shares of DXC Technology by 388.6% during the 4th quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after purchasing an additional 94,748 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DXC. BMO Capital Markets decreased their price objective on shares of DXC Technology from $23.00 to $17.50 and set a “market perform” rating for the company in a research report on Friday, May 17th. TD Cowen dropped their price target on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Royal Bank of Canada lowered their target price on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Friday, May 17th. Stifel Nicolaus lowered their price target on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 17th. Finally, Susquehanna increased their price target on shares of DXC Technology from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.14.

DXC Technology Stock Down 0.3 %

DXC traded down $0.06 during trading hours on Monday, reaching $20.00. 29,126 shares of the stock traded hands, compared to its average volume of 2,545,743. The firm’s fifty day simple moving average is $17.93 and its two-hundred day simple moving average is $19.99. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 54.22, a PEG ratio of 2.29 and a beta of 1.73. DXC Technology has a fifty-two week low of $14.78 and a fifty-two week high of $28.01. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.17 and a quick ratio of 1.17.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data 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. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. DXC Technology had a net margin of 0.67% and a return on equity of 18.43%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $1.02 EPS. As a group, analysts forecast that DXC Technology will post 2.73 earnings per share for the current fiscal year.

About DXC Technology

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).