Hsbc Holdings PLC Reduces Stock Position in DXC Technology (NYSE:DXC)

Hsbc Holdings PLC lowered its stake in DXC Technology (NYSE:DXC) by 86.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,315 shares of the company’s stock after selling 229,664 shares during the quarter. Hsbc Holdings PLC’s holdings in DXC Technology were worth $853,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its position in DXC Technology by 3,525.9% in the fourth quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,045 shares during the period. GAMMA Investing LLC bought a new position in DXC Technology in the fourth quarter worth approximately $49,000. Headlands Technologies LLC bought a new position in DXC Technology in the third quarter worth approximately $67,000. NBC Securities Inc. bought a new position in DXC Technology in the third quarter worth approximately $94,000. Finally, Quest Partners LLC bought a new position in DXC Technology in the fourth quarter worth approximately $104,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the completion of the transaction, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at $2,712,034.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.87% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Guggenheim began coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price objective on the stock. Citigroup downgraded shares of DXC Technology from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $24.00 to $21.00 in a research report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.20.

DXC Technology Price Performance

DXC traded down $0.10 during trading on Thursday, hitting $18.90. 1,806,719 shares of the company traded hands, compared to its average volume of 2,381,577. The company has a market cap of $3.46 billion, a PE ratio of -9.90, a P/E/G ratio of 1.75 and a beta of 1.85. The stock’s 50-day simple moving average is $20.77 and its two-hundred day simple moving average is $21.84. DXC Technology has a 1 year low of $18.61 and a 1 year high of $28.89. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.10. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. DXC Technology’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the company posted $0.95 earnings per share. As a group, sell-side analysts anticipate that DXC Technology will post 3.03 earnings per share for the current fiscal year.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).