DXC Technology (NYSE:DXC) Stake Raised by Miller Value Partners LLC

Miller Value Partners LLC boosted its position in DXC Technology (NYSE:DXC – Get Rating) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,518,738 shares of the company’s stock after buying an additional 9,319 shares during the period. DXC Technology makes up approximately 3.1% of Miller Value Partners LLC’s investment portfolio, making the stock its 3rd largest holding. Miller Value Partners LLC owned 1.44% of DXC Technology worth $113,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXC. Franklin Resources Inc. boosted its position in DXC Technology by 25.2% in the 3rd quarter. Franklin Resources Inc. now owns 16,568,171 shares of the company’s stock worth $556,855,000 after purchasing an additional 3,329,558 shares in the last quarter. Invesco Ltd. boosted its position in DXC Technology by 45.4% in the 3rd quarter. Invesco Ltd. now owns 9,800,550 shares of the company’s stock worth $329,397,000 after purchasing an additional 3,062,011 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in DXC Technology in the 3rd quarter worth approximately $47,968,000. Morgan Stanley boosted its position in DXC Technology by 11.1% in the 3rd quarter. Morgan Stanley now owns 5,552,338 shares of the company’s stock worth $186,614,000 after purchasing an additional 554,921 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in DXC Technology by 53.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,504,148 shares of the company’s stock worth $48,419,000 after purchasing an additional 525,773 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Several equities research analysts have commented on the company. Susquehanna Bancshares lowered their price objective on DXC Technology from $42.00 to $41.00 and set a “positive” rating on the stock in a research report on Thursday. Citigroup decreased their target price on DXC Technology from $45.00 to $43.00 in a research report on Wednesday, April 20th. JPMorgan Chase & Co. decreased their target price on DXC Technology from $41.00 to $39.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 22nd. Bank of America lowered DXC Technology from a “buy” rating to an “underperform” rating and decreased their target price for the company from $45.00 to $30.00 in a research report on Wednesday, March 9th. Finally, Cowen decreased their target price on DXC Technology from $45.00 to $43.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.93.

NYSE DXC traded up $0.92 during mid-day trading on Friday, hitting $35.08. The stock had a trading volume of 2,323,672 shares, compared to its average volume of 2,130,852. The firm’s 50 day moving average is $30.75 and its 200 day moving average is $31.89. DXC Technology has a twelve month low of $27.28 and a twelve month high of $44.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -14.44, a PEG ratio of 0.26 and a beta of 2.15.

DXC Technology (NYSE:DXC – Get Rating) last issued its earnings results on Wednesday, May 25th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.15). DXC Technology had a positive return on equity of 16.81% and a negative net margin of 3.67%. The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.12 billion. During the same period last year, the business earned $0.74 earnings per share. The firm’s revenue was down 8.6% compared to the same quarter last year. As a group, equities research analysts expect that DXC Technology will post 3.66 earnings per share for the current year.

DXC Technology Profile (Get Rating)

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.

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