The Vanguard Group, Inc. recently announced the acquisition of new stake in DXC Technology Company (NYSE:DXC). The institutional investor has increased its shareholding in the Technology company by 1.91% to 25.67 million shares with purchase of 0.48 million shares. This fresh investment now brings its stake to 11.28% valued currently at $712.17 million. In addition, Glenview Capital Management LLC raised its holdings by 57096.0 to 9.7 million shares. And Victory Capital Management, Inc. has lifted its position by 0.13% or 12378.0 shares – to 9.3 million shares.
With over 2.46 million DXC Technology Company (DXC) shares trading Tuesday and a closing price of $24.58 on the day, the dollar volume was approximately $60.5 million. The shares have shown a negative half year performance of -13.33% and its price on 03/14/23 gained nearly 0.94%. Currently, there are 229.54M common shares owned by the public and among those 226.41M shares have been available to trade.
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Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 344,123 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 221,344 shares.
The top 3 mutual fund holders in DXC Technology Company are Vanguard Total Stock Market Index, Victory Sycamore Established Valu, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 6.84 million shares of the company’s stock, all valued at over $189.86 million. The company bought an additional 34802.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard Small Cap Index Fund bought 32562.0 shares to bring its total holdings to over 5.81 million shares at a value of $161.18 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.55% of the shares outstanding.
Shares of DXC Technology Company (NYSE: DXC) opened at $24.96, up $0.61 from a prior closing price of $24.35. However, the script later moved the day high at 25.20, up 0.94%. The company’s stock has a 5-day price change of -7.14% and -6.61% over the past three months. DXC shares are trading -7.25% year to date (YTD), with the 12-month market performance down to -19.57% lower. It has a 12-month low price of $22.65 and touched a high of $36.00 over the same period. DXC has an average intraday trading volume of 1.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.80%, -12.68%, and -13.45% respectively.
Institutional ownership of DXC Technology Company (NYSE: DXC) shares accounts for 94.40% of the company’s 229.54M shares outstanding. Mutual fund holders own 36.21%, while other institutional holders and individual stakeholders account for 55.57% and 1.78% respectively.
It has a market capitalization of $5.79B and a beta (3y monthly) value of 1.98. The stock’s trailing 12-month PE ratio is 8.37, while the earnings-per-share (ttm) stands at $2.94. The company has a PEG of 0.97 and a Quick Ratio of 1.10 with the debt-to-equity ratio at 1.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.75% over the week and 2.96% over the month.
Analysts forecast that DXC Technology Company (DXC) will achieve an EPS of $1.03 for the current quarter, $0.94 for the next quarter and $3.99 for 2024. The lowest estimate earnings-per-share for the quarter is $1 while analysts give the company a high EPS estimate of $1.1. Comparatively, EPS for the current quarter was $0.84 a year ago. Earnings per share for the fiscal year are expected to increase by 562.80%, and 14.96% over the next financial year. EPS should shrink at an annualized rate of 8.67% over the next five years, compared to 39.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate DXC Technology Company (DXC) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 7 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the DXC, a number of firms have released research notes about the stock. MoffettNathanson stated their Underperform rating for the stock in a research note on January 19, 2023, with the firm’s price target at $32-$28. JP Morgan coverage for the DXC Technology Company (DXC) stock in a research note released on December 15, 2022 offered a Neutral rating with a price target of $33. Susquehanna was of a view on September 16, 2022 that the stock is Neutral, while BofA Securities gave the stock Underperform rating on March 09, 2022, issuing a price target of $45- $30. MoffettNathanson on their part issued Neutral rating on September 22, 2021.
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