DXC Technology (NYSE:DXC) Shares Purchased by Millennium Management LLC

Millennium Management LLC boosted its stake in DXC Technology (NYSE:DXC) by 352.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 625,197 shares of the company’s stock after purchasing an additional 487,072 shares during the period. Millennium Management LLC owned approximately 0.35% of DXC Technology worth $11,935,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DXC. Bridgefront Capital LLC acquired a new stake in shares of DXC Technology during the fourth quarter valued at about $337,000. Glenview Capital Management LLC grew its stake in shares of DXC Technology by 33.6% during the fourth quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock valued at $297,461,000 after acquiring an additional 3,272,212 shares in the last quarter. FIL Ltd grew its stake in shares of DXC Technology by 4.2% during the fourth quarter. FIL Ltd now owns 6,598,101 shares of the company’s stock valued at $150,899,000 after acquiring an additional 267,480 shares in the last quarter. Quarry LP acquired a new stake in shares of DXC Technology during the fourth quarter valued at about $51,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in shares of DXC Technology by 4,862.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,031,649 shares of the company’s stock valued at $23,593,000 after acquiring an additional 1,010,860 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Stock Performance

DXC opened at $20.53 on Tuesday. The business’s 50 day moving average is $20.25 and its 200-day moving average is $19.42. The stock has a market cap of $3.70 billion, a PE ratio of 55.47, a price-to-earnings-growth ratio of 1.83 and a beta of 1.67. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.21. DXC Technology has a twelve month low of $14.78 and a twelve month high of $25.14.

DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, August 8th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.14 billion. On average, analysts predict that DXC Technology will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Mary E. Finch sold 31,047 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the sale, the executive vice president now owns 325,665 shares of the company’s stock, valued at $6,304,874.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the transaction, the senior vice president now owns 83,746 shares in the company, valued at approximately $1,789,652.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mary E. Finch sold 31,047 shares of DXC Technology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the transaction, the executive vice president now owns 325,665 shares in the company, valued at approximately $6,304,874.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DXC shares. BMO Capital Markets lifted their price target on DXC Technology from $17.50 to $22.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada lifted their price target on DXC Technology from $18.00 to $20.00 and gave the stock a “sector perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on 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 lifted their price target on DXC Technology from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $20.30.

DXC Technology 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).