HighTower Advisors LLC Lowers Stake in DXC Technology (NYSE:DXC)

HighTower Advisors LLC cut its stake in DXC Technology (NYSE:DXC) by 15.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,699 shares of the company’s stock after selling 3,104 shares during the period. HighTower Advisors LLC’s holdings in DXC Technology were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DXC. Pacer Advisors Inc. lifted its holdings in shares of DXC Technology by 30.4% in the 2nd quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock worth $367,310,000 after acquiring an additional 4,489,924 shares during the last quarter. Marshall Wace LLP raised its position in DXC Technology by 1,047.3% in the 2nd quarter. Marshall Wace LLP now owns 820,585 shares of the company’s stock worth $15,665,000 after purchasing an additional 749,060 shares during the period. American Century Companies Inc. raised its position in DXC Technology by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock worth $76,194,000 after purchasing an additional 687,522 shares during the period. Millennium Management LLC lifted its stake in DXC Technology by 352.6% in the second quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock worth $11,935,000 after purchasing an additional 487,072 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in DXC Technology by 3,173.3% during the second quarter. Canada Pension Plan Investment Board now owns 451,712 shares of the company’s stock valued at $8,623,000 after buying an additional 437,912 shares during the period. Institutional investors own 96.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DXC shares. Susquehanna lifted their price objective on DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. BMO Capital Markets lifted their price target on DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price objective on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, DXC Technology presently has an average rating of “Hold” and an average price target of $20.89.

DXC Technology Stock Performance

NYSE:DXC opened at $20.60 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The firm’s fifty day simple moving average is $21.34 and its 200 day simple moving average is $20.20. The stock has a market cap of $3.73 billion, a P/E ratio of 257.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.65. DXC Technology has a twelve month low of $14.78 and a twelve month high of $24.83.

DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.21. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates 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 firm posted $0.70 EPS. As a group, research analysts predict that DXC Technology will post 3.18 EPS for the current 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).