Assenagon Asset Management S.A. Has $10.89 Million Stake in DXC Technology Company. $DXC

Assenagon Asset Management S.A. decreased its holdings in shares of DXC Technology Company. (NYSE:DXC) by 44.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 866,694 shares of the company’s stock after selling 703,341 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DXC Technology were worth $10,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DXC. EverSource Wealth Advisors LLC grew its stake in shares of DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after acquiring an additional 1,227 shares during the last quarter. Danske Bank A S increased its position in DXC Technology by 280.0% during the fourth quarter. Danske Bank A S now owns 1,900 shares of the company’s stock worth $28,000 after acquiring an additional 1,400 shares during the period. Fifth Third Bancorp raised its stake in DXC Technology by 116.0% during the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock valued at $31,000 after purchasing an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. raised its stake in DXC Technology by 110.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock valued at $32,000 after purchasing an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in DXC Technology by 13,258.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock valued at $33,000 after purchasing an additional 2,254 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Insider Activity

In other DXC Technology news, CEO Raul J. Fernandez acquired 28,051 shares of DXC Technology stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $8.90 per share, with a total value of $249,653.90. Following the completion of the purchase, the chief executive officer owned 844,052 shares in the company, valued at $7,512,062.80. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus set a $12.00 target price on DXC Technology in a research report on Friday, May 8th. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. TD Cowen reduced their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Morgan Stanley decreased their price objective on DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 14th. Finally, BMO Capital Markets decreased their price objective on DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Reduce” and an average target price of $12.75.

DXC Technology Price Performance

Shares of DXC Technology stock opened at $8.80 on Friday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 146.60 and a beta of 0.81. The firm’s 50-day moving average price is $9.90 and its two-hundred day moving average price is $12.34. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.94. DXC Technology Company. has a 1-year low of $7.90 and a 1-year high of $16.45.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Friday, May 8th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.17 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, equities analysts predict that DXC Technology Company. will post 2.64 earnings per share for the current fiscal year.

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.