Sei Investments Co. Raises Position in DXC Technology (NYSE:DXC)

Sei Investments Co. boosted its stake in DXC Technology (NYSE:DXC) by 77.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,937 shares of the company’s stock after buying an additional 27,874 shares during the quarter. Sei Investments Co.’s holdings in DXC Technology were worth $2,426,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in DXC Technology by 48.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,784 shares of the company’s stock valued at $1,588,000 after buying an additional 13,343 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in DXC Technology in the 2nd quarter worth approximately $239,000. Fagan Associates Inc. lifted its stake in DXC Technology by 61.3% in the 2nd quarter. Fagan Associates Inc. now owns 122,964 shares of the company’s stock worth $4,788,000 after purchasing an additional 46,740 shares in the last quarter. Checchi Capital Advisers LLC purchased a new position in DXC Technology in the 2nd quarter worth approximately $235,000. Finally, American Century Companies Inc. lifted its stake in DXC Technology by 1,772.7% in the 2nd quarter. American Century Companies Inc. now owns 508,104 shares of the company’s stock worth $19,786,000 after purchasing an additional 480,972 shares in the last quarter. 85.38% of the stock is currently owned by hedge funds and other institutional investors.

DXC has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of DXC Technology from $42.00 to $47.00 and gave the stock an “outperform” rating in a research note on Thursday, August 5th. Wells Fargo & Company raised shares of DXC Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $26.00 to $48.00 in a research note on Wednesday, June 2nd. They noted that the move was a valuation call. Susquehanna raised shares of DXC Technology from a “neutral” rating to a “positive” rating and set a $42.00 target price on the stock in a research note on Tuesday, August 24th. BMO Capital Markets raised shares of DXC Technology from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $43.00 to $50.00 in a research note on Tuesday, August 3rd. Finally, Susquehanna Bancshares upgraded shares of DXC Technology from a “neutral” rating to a “positive” rating and set a $42.00 price target for the company in a report on Tuesday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $43.58.

Shares of NYSE DXC opened at $35.99 on Friday. The company has a 50 day simple moving average of $38.24 and a 200-day simple moving average of $35.50. The company has a market capitalization of $9.07 billion, a P/E ratio of 28.56, a P/E/G ratio of 0.35 and a beta of 2.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.02 and a quick ratio of 1.02. DXC Technology has a 1 year low of $15.64 and a 1 year high of $44.18.

DXC Technology (NYSE:DXC) last posted its earnings results on Wednesday, August 4th. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.09. DXC Technology had a net margin of 1.92% and a return on equity of 14.72%. The firm had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, research analysts expect that DXC Technology will post 3.6 EPS for the current year.

In other DXC Technology news, Director Raul J. Fernandez purchased 9,515 shares of the company’s stock in a transaction on Tuesday, August 17th. The stock was acquired at an average price of $38.86 per share, for a total transaction of $369,752.90. Following the completion of the purchase, the director now directly owns 45,807 shares in the company, valued at approximately $1,780,060.02. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Raul J. Fernandez purchased 1,324 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was acquired at an average price of $33.88 per share, with a total value of $44,857.12. The disclosure for this purchase can be found here. Insiders purchased a total of 17,791 shares of company stock valued at $684,089 in the last quarter. 0.39% of the stock is owned by insiders.

DXC Technology Profile

DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerates the digital transformations that is tailored to each client’s specific objectives.

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

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