IMA Wealth Inc. Has $1.61 Million Holdings in DXC Technology (NYSE:DXC)

IMA Wealth Inc. lessened its stake in shares of DXC Technology (NYSE:DXC) by 5.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,536 shares of the company’s stock after selling 3,985 shares during the period. IMA Wealth Inc.’s holdings in DXC Technology were worth $1,613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in DXC Technology by 388.6% during the 4th quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after buying an additional 94,748 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of DXC Technology in the 4th quarter valued at about $2,216,000. Ameriprise Financial Inc. increased its holdings in shares of DXC Technology by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock valued at $62,342,000 after purchasing an additional 8,235 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of DXC Technology by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 63,800 shares of the company’s stock valued at $1,329,000 after purchasing an additional 5,735 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of DXC Technology by 165.1% in the 4th quarter. SG Americas Securities LLC now owns 82,550 shares of the company’s stock valued at $1,888,000 after purchasing an additional 51,409 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Insider Transactions at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 in the company, valued at $2,712,034.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.87% of the company’s stock.

Wall Street Analyst Weigh In

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

DXC Technology Trading Down 1.4 %

DXC Technology stock traded down $0.29 during trading hours on Friday, reaching $20.08. 1,338,298 shares of the company were exchanged, compared to its average volume of 1,447,324. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average of $20.88 and a 200 day moving average of $21.91. DXC Technology has a 12 month low of $18.61 and a 12 month high of $28.89.

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