Proficio Capital Partners LLC Invests $659,000 in DXC Technology (NYSE:DXC)

Proficio Capital Partners LLC bought a new stake in shares of DXC Technology (NYSE:DXC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 32,967 shares of the company’s stock, valued at approximately $659,000.

A number of other hedge funds have also recently made changes to their positions in DXC. Highland Capital Management LLC increased its stake in shares of DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company’s stock valued at $237,000 after buying an additional 731 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in DXC Technology by 116.1% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock worth $33,000 after acquiring an additional 900 shares in the last quarter. CIBC Asset Management Inc increased its position in DXC Technology by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 17,976 shares of the company’s stock valued at $359,000 after purchasing an additional 950 shares during the period. Brown Lisle Cummings Inc. raised its holdings in shares of DXC Technology by 60.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock valued at $64,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of DXC Technology by 2.4% in the 3rd quarter. Franklin Resources Inc. now owns 63,230 shares of the company’s stock worth $1,272,000 after purchasing an additional 1,502 shares during the period. 96.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DXC shares. BMO Capital Markets increased their target price on DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, November 11th. Morgan Stanley raised their price objective on DXC Technology from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.38.

DXC Technology Stock Performance

Shares of DXC opened at $18.61 on Monday. The stock has a 50-day moving average of $20.22 and a two-hundred day moving average of $20.73. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $3.37 billion, a P/E ratio of -44.31, a P/E/G ratio of 1.16 and a beta of 1.62. DXC Technology has a one year low of $14.78 and a one year high of $24.83.

DXC Technology (NYSE:DXC) last released its earnings results on Tuesday, February 4th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.23. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. As a group, research analysts predict that DXC Technology will post 3.35 EPS for the current year.

About DXC Technology

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).