Point72 Asset Management L.P. Makes New Investment in DXC Technology (NYSE:DXC)

Point72 Asset Management L.P. acquired a new position in shares of DXC Technology (NYSE:DXC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 69,322 shares of the company’s stock, valued at approximately $1,438,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Benjamin Edwards Inc. purchased a new position in DXC Technology during the 3rd quarter worth $664,000. Qsemble Capital Management LP acquired a new stake in shares of DXC Technology in the 3rd quarter worth $218,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of DXC Technology in the 3rd quarter worth $1,904,000. Algert Global LLC lifted its stake in shares of DXC Technology by 283.5% in the 3rd quarter. Algert Global LLC now owns 70,610 shares of the company’s stock worth $1,465,000 after acquiring an additional 52,200 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of DXC Technology by 109.7% in the 3rd quarter. Cerity Partners LLC now owns 38,752 shares of the company’s stock worth $804,000 after acquiring an additional 20,269 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $21.37, for a total transaction of $53,425.00. Following the completion of the sale, the senior vice president now directly owns 83,746 shares in the company, valued at $1,789,652.02. The trade was a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.54% of the stock is currently owned by company insiders.

DXC Technology Stock Down 1.9 %

Shares of NYSE DXC opened at $21.85 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. DXC Technology has a 52 week low of $14.78 and a 52 week high of $25.14. The firm has a 50-day moving average price of $21.19 and a 200 day moving average price of $19.90. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 273.16, a price-to-earnings-growth ratio of 1.44 and a beta of 1.65.

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

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).