RHS Financial LLC Makes New Investment in DXC Technology (NYSE:DXC)

RHS Financial LLC purchased a new position in shares of DXC Technology (NYSE:DXC) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,525 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DXC. Byrne Asset Management LLC purchased a new stake in shares of DXC Technology in the 1st quarter valued at approximately $33,000. Meeder Asset Management Inc. bought a new stake in DXC Technology in the fourth quarter worth approximately $55,000. Smartleaf Asset Management LLC grew its position in DXC Technology by 366.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock worth $60,000 after acquiring an additional 2,356 shares in the last quarter. Quarry LP lifted its stake in shares of DXC Technology by 604.1% in the fourth quarter. Quarry LP now owns 3,978 shares of the company’s stock worth $79,000 after buying an additional 3,413 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of DXC Technology by 37.4% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $77,000 after buying an additional 1,226 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Trading Down 1.9%

Shares of DXC stock opened at $15.56 on Friday. DXC Technology has a 52-week low of $13.44 and a 52-week high of $24.83. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of -37.05, a P/E/G ratio of 1.16 and a beta of 1.22. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a fifty day moving average of $15.33 and a 200-day moving average of $18.21.

DXC Technology (NYSE:DXC) last posted its earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DXC has been the subject of several research analyst reports. Royal Bank of Canada cut their target price on shares of DXC Technology from $27.00 to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Guggenheim reiterated a “neutral” rating on shares of DXC Technology in a research note on Monday, May 12th. Wall Street Zen cut shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. BMO Capital Markets cut their target price on shares of DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of DXC Technology from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, May 21st. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, DXC Technology presently has a consensus rating of “Hold” and an average target price of $17.00.

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).