Heritage Investors Management Corp Sells 835 Shares of DXC Technology (NYSE:DXC)

Heritage Investors Management Corp decreased its stake in DXC Technology (NYSE:DXC) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,744 shares of the company’s stock after selling 835 shares during the period. Heritage Investors Management Corp’s holdings in DXC Technology were worth $1,618,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in shares of DXC Technology by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after acquiring an additional 3,827,176 shares in the last quarter. Invesco Ltd. lifted its position in DXC Technology by 9.5% in the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock valued at $355,784,000 after acquiring an additional 1,478,484 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in DXC Technology by 3,407.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,411,199 shares of the company’s stock valued at $29,395,000 after purchasing an additional 1,370,962 shares during the last quarter. Todd Asset Management LLC bought a new stake in DXC Technology during the 4th quarter worth approximately $22,210,000. Finally, American Century Companies Inc. grew its holdings in DXC Technology by 734.2% during the third quarter. American Century Companies Inc. now owns 696,761 shares of the company’s stock worth $14,514,000 after buying an additional 613,235 shares in the last quarter. 96.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analysts Forecast Growth

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

DXC Technology Stock Performance

NYSE DXC traded down $0.28 on Thursday, hitting $19.62. 1,403,377 shares of the company traded hands, compared to its average volume of 2,329,097. DXC Technology has a 52-week low of $18.61 and a 52-week 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. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of -10.41, a P/E/G ratio of 1.72 and a beta of 1.85. The business’s 50 day moving average price is $20.56 and its 200-day moving average price is $21.79.

About DXC Technology

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).