Ionic Capital Management LLC Buys 60,000 Shares of DXC Technology (NYSE:DXC)

Ionic Capital Management LLC raised its holdings in DXC Technology (NYSE:DXC) by 55.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,182 shares of the company’s stock after buying an additional 60,000 shares during the period. Ionic Capital Management LLC owned about 0.07% of DXC Technology worth $5,257,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DXC. BlackRock Inc. increased its stake in shares of DXC Technology by 8.4% during the first quarter. BlackRock Inc. now owns 16,903,069 shares of the company’s stock worth $528,390,000 after purchasing an additional 1,313,271 shares during the period. Glenview Capital Management LLC boosted its holdings in shares of DXC Technology by 4.3% in the 1st quarter. Glenview Capital Management LLC now owns 10,582,485 shares of the company’s stock valued at $330,808,000 after purchasing an additional 433,426 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of DXC Technology by 17.5% in the 1st quarter. Victory Capital Management Inc. now owns 7,780,747 shares of the company’s stock valued at $243,226,000 after acquiring an additional 1,156,876 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of DXC Technology by 147.5% in the 1st quarter. Point72 Asset Management L.P. now owns 7,517,578 shares of the company’s stock valued at $234,999,000 after acquiring an additional 4,479,808 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of DXC Technology by 65.3% in the 4th quarter. Morgan Stanley now owns 5,032,718 shares of the company’s stock valued at $129,592,000 after acquiring an additional 1,988,804 shares during the last quarter. Hedge funds and other institutional investors own 82.82% of the company’s stock.

Several research analysts have recently weighed in on DXC shares. Deutsche Bank Aktiengesellschaft lifted their price objective on DXC Technology from $44.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on shares of DXC Technology from $31.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, May 21st. Finally, Wells Fargo & Company raised shares of DXC Technology from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $48.00 in a report on Wednesday, June 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $34.44.

DXC stock traded down $0.22 on Thursday, hitting $38.85. The company had a trading volume of 16,760 shares, compared to its average volume of 2,014,978. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.82. DXC Technology has a 12-month low of $15.64 and a 12-month high of $41.75. The company has a market capitalization of $9.93 billion, a PE ratio of -63.02, a price-to-earnings-growth ratio of 0.40 and a beta of 2.44. The company has a 50-day moving average of $38.80.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Tuesday, May 25th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. DXC Technology had a negative net margin of 0.84% and a positive return on equity of 11.89%. The business had revenue of $4.39 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Analysts anticipate that DXC Technology will post 3.54 earnings per share for the current year.

In other DXC Technology news, Director Raul J. Fernandez purchased 1,820 shares of DXC Technology stock in a transaction dated Friday, June 11th. The stock was acquired at an average price of $41.20 per share, for a total transaction of $74,984.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

Featured Article: What does the Producer Price Index (PPI) tell investors?

Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.