Convergence Investment Partners LLC Takes $693,000 Position in DXC Technology Company. $DXC

Convergence Investment Partners LLC purchased a new position in shares of DXC Technology Company. (NYSE:DXC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 50,845 shares of the company’s stock, valued at approximately $693,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC boosted its stake in DXC Technology by 97.0% in the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after acquiring an additional 1,936,726 shares during the last quarter. Norges Bank bought a new stake in shares of DXC Technology during the 2nd quarter valued at $16,589,000. Qube Research & Technologies Ltd lifted its stake in shares of DXC Technology by 1,156.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after purchasing an additional 1,042,409 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of DXC Technology in the 2nd quarter worth $8,716,000. Finally, American Century Companies Inc. grew its stake in shares of DXC Technology by 7.6% during the second quarter. American Century Companies Inc. now owns 6,995,343 shares of the company’s stock worth $106,959,000 after purchasing an additional 491,668 shares during the period. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

NYSE DXC opened at $15.29 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.09 and a current ratio of 1.35. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 6.56 and a beta of 1.07. The business has a 50 day simple moving average of $14.65 and a 200 day simple moving average of $14.01. DXC Technology Company. has a 52-week low of $11.82 and a 52-week high of $23.75.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. Analysts anticipate that DXC Technology Company. will post 3.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on DXC shares. Weiss Ratings reissued a “sell (d)” rating on shares of DXC Technology in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus reduced their price objective on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Friday, October 31st. Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the company an “underperform” rating in a research note on Friday. Finally, Susquehanna set a $14.00 target price on shares of DXC Technology and gave the stock a “neutral” rating in a report on Friday, October 31st. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $14.71.

Insiders Place Their Bets

In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $15.15, for a total transaction of $37,875.00. Following the completion of the transaction, the senior vice president owned 88,605 shares in the company, valued at approximately $1,342,365.75. This represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

About DXC Technology

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.