Maverick Capital Ltd. Reduces Stock Holdings in DXC Technology (NYSE:DXC)

Maverick Capital Ltd. reduced its position in DXC Technology (NYSE:DXC) by 14.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,478 shares of the company’s stock after selling 8,839 shares during the period. Maverick Capital Ltd.’s holdings in DXC Technology were worth $1,110,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of DXC Technology by 4.7% during the third quarter. Pacer Advisors Inc. now owns 20,140,488 shares of the company’s stock worth $417,915,000 after buying an additional 899,510 shares in the last quarter. American Century Companies Inc. grew its position in shares of DXC Technology by 20.8% during the 2nd quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock valued at $76,194,000 after buying an additional 687,522 shares during the last quarter. LSV Asset Management raised its position in shares of DXC Technology by 0.8% during the 2nd quarter. LSV Asset Management now owns 3,436,128 shares of the company’s stock worth $65,596,000 after purchasing an additional 26,186 shares during the period. AQR Capital Management LLC boosted its position in DXC Technology by 11.3% during the 2nd quarter. AQR Capital Management LLC now owns 2,117,753 shares of the company’s stock valued at $39,898,000 after purchasing an additional 215,692 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in DXC Technology by 12.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,704,485 shares of the company’s stock worth $32,539,000 after buying an additional 191,101 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DXC Technology

In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction that occurred on 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 approximately $1,789,652.02. The trade was a 2.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

DXC Technology Price Performance

NYSE DXC opened at $22.50 on Friday. DXC Technology has a 1 year low of $14.78 and a 1 year high of $25.14. The business’s fifty day moving average is $20.94 and its two-hundred day moving average is $19.63. The stock has a market capitalization of $4.07 billion, a P/E ratio of 281.25, a P/E/G ratio of 1.45 and a beta of 1.67. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25.

DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.21. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. On average, research analysts forecast that DXC Technology will post 3.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on DXC shares. Royal Bank of Canada boosted their target price on shares of DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Susquehanna raised their price target on DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on shares of DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets boosted their price objective on DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.89.

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).