Raymond James Financial Inc. Acquires New Position in DXC Technology (NYSE:DXC)

Raymond James Financial Inc. bought a new position in shares of DXC Technology (NYSE:DXC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 165,577 shares of the company’s stock, valued at approximately $3,308,000.

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. grew its stake 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 valued at $33,000 after purchasing an additional 900 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock worth $60,000 after purchasing an additional 2,356 shares during the period. Brown Lisle Cummings Inc. boosted its position in DXC Technology by 60.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock valued at $64,000 after buying an additional 1,200 shares during the last quarter. Quest Partners LLC acquired a new position in DXC Technology in the 3rd quarter worth approximately $97,000. Finally, Matrix Trust Co raised its position in DXC Technology by 347.2% during the 4th quarter. Matrix Trust Co now owns 9,343 shares of the company’s stock worth $187,000 after buying an additional 7,254 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Stock Performance

NYSE:DXC opened at $17.39 on Friday. DXC Technology has a fifty-two week low of $14.79 and a fifty-two week high of $24.83. 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 company has a 50 day moving average price of $19.42 and a 200 day moving average price of $20.40. The stock has a market capitalization of $3.15 billion, a P/E ratio of -41.41, a PEG ratio of 1.16 and a beta of 1.62.

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price objective on shares of DXC Technology from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, DXC Technology has an average rating of “Hold” and a consensus target price of $21.29.

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).