Assenagon Asset Management S.A. Grows Position in DXC Technology (NYSE:DXC)

Assenagon Asset Management S.A. raised its position in DXC Technology (NYSE:DXC) by 4,893.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 669,576 shares of the company’s stock after buying an additional 656,167 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.37% of DXC Technology worth $13,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DXC. Pacer Advisors Inc. boosted its stake in shares of DXC Technology by 30.4% during the second quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock worth $367,310,000 after buying an additional 4,489,924 shares during the period. Marshall Wace LLP lifted its position in DXC Technology by 1,047.3% in the second quarter. Marshall Wace LLP now owns 820,585 shares of the company’s stock valued at $15,665,000 after purchasing an additional 749,060 shares during the period. Millennium Management LLC raised its stake in shares of DXC Technology by 352.6% during the 2nd quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock worth $11,935,000 after buying an additional 487,072 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings 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 worth $8,623,000 after acquiring an additional 437,912 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in DXC Technology by 11.3% in the second quarter. AQR Capital Management LLC now owns 2,117,753 shares of the company’s stock valued at $39,898,000 after acquiring an additional 215,692 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

DXC Technology Stock Performance

NYSE:DXC opened at $20.51 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market cap of $3.71 billion, a PE ratio of 256.34, a P/E/G ratio of 1.26 and a beta of 1.66. The firm has a 50 day simple moving average of $21.16 and a 200-day simple moving average of $20.49. DXC Technology has a 1-year low of $14.78 and a 1-year high of $24.83.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same period in the previous year, the firm posted $0.70 EPS. On average, equities analysts expect that DXC Technology will post 3.18 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Susquehanna raised their price objective on shares of DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. BMO Capital Markets lifted 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 report on Monday, November 11th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.88.

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).