Allspring Global Investments Holdings LLC Trims Stock Position in DXC Technology (NYSE:DXC)

Allspring Global Investments Holdings LLC cut its stake in DXC Technology (NYSE:DXC) by 88.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,981 shares of the company’s stock after selling 112,962 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DXC Technology were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new stake in DXC Technology in the second quarter valued at $26,000. Mather Group LLC. lifted its position in DXC Technology by 55.0% in the second quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock valued at $35,000 after acquiring an additional 581 shares during the last quarter. Fifth Third Bancorp lifted its position in DXC Technology by 40.1% in the second quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after acquiring an additional 559 shares during the last quarter. Family Firm Inc. purchased a new stake in DXC Technology in the second quarter valued at $37,000. Finally, Matrix Trust Co purchased a new stake in DXC Technology in the third quarter valued at $43,000. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Price Performance

Shares of NYSE:DXC opened at $20.02 on Friday. The company has a 50-day simple moving average of $20.60 and a 200-day simple moving average of $19.37. DXC Technology has a one year low of $14.78 and a one year high of $25.14. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 58.88, a PEG ratio of 1.82 and a beta of 1.67.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. DXC Technology had a net margin of 0.60% and a return on equity of 19.20%. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.14 billion. On average, analysts predict that DXC Technology will post 2.89 EPS for the current year.

Insider Transactions at DXC Technology

In other news, EVP Mary E. Finch sold 31,047 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $19.36, for a total transaction of $601,069.92. Following the transaction, the executive vice president now directly owns 325,665 shares in the company, valued at $6,304,874.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $21.37, for a total transaction of $53,425.00. Following the transaction, the senior vice president now directly owns 83,746 shares in the company, valued at $1,789,652.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mary E. Finch sold 31,047 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the transaction, the executive vice president now owns 325,665 shares in the company, valued at approximately $6,304,874.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of DXC Technology from $17.50 to $22.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada upped their target price on shares of DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, DXC Technology presently has a consensus rating of “Hold” and an average target price of $20.11.

DXC Technology Company Profile

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).