DXC Technology Company. $DXC Stake Boosted by CastleKnight Management LP

CastleKnight Management LP increased its stake in DXC Technology Company. (NYSE:DXC) by 344.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 324,651 shares of the company’s stock after purchasing an additional 251,651 shares during the quarter. CastleKnight Management LP’s holdings in DXC Technology were worth $4,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DXC. EverSource Wealth Advisors LLC increased its stake in DXC Technology by 240.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after purchasing an additional 1,227 shares in the last quarter. Danske Bank A S grew its stake in DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock valued at $28,000 after acquiring an additional 1,400 shares in the last quarter. Fifth Third Bancorp grew its stake in DXC Technology by 116.0% during the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock valued at $31,000 after acquiring an additional 1,129 shares in the last quarter. Hantz Financial Services Inc. grew its stake in DXC Technology by 110.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock valued at $32,000 after acquiring an additional 1,147 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its stake in DXC Technology by 13,258.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock valued at $33,000 after acquiring an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Key DXC Technology News

Here are the key news stories impacting DXC Technology this week:

• Positive Sentiment: DXC announced an expanded partnership with Norske Skog to modernize the company’s network and technology operations, a sign of continued client demand and potential revenue from its services business. DXC Expands Relationship with Norske Skog to Modernize Network and Technology Operations
• Positive Sentiment: DXC also drew attention for its AI and network expansion efforts, which may support investor optimism around growth initiatives and modernization services. DXC Technology Gains Attention Following AI & Network Expansion
• Neutral Sentiment: BMO Capital initiated or reiterated a Hold rating on DXC, signaling a cautious outlook rather than a strong bullish or bearish thesis. DXC Technology (DXC) Receives a Hold from BMO Capital
• Neutral Sentiment: News around the long-running CSC/TCS-DXC trade secrets dispute indicates the U.S. Supreme Court declined review, leaving the legal outcome unchanged for DXC; while this is notable, it appears more relevant to TCS’s accounting charge than to DXC’s near-term fundamentals. TCS to set aside $70 mn more after US Supreme Court declines review in CSC-DXC dispute
• Negative Sentiment: The stock remains under pressure despite the news flow, likely reflecting broader concerns about DXC’s weak technical setup and mixed growth profile, with shares still trading well below key moving averages.

Insider Activity at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez purchased 28,051 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $8.90 per share, for a total transaction of $249,653.90. Following the purchase, the chief executive officer directly owned 844,052 shares in the company, valued at $7,512,062.80. This trade represents a 3.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.13% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of DXC Technology in a research note on Friday, June 12th. Zacks Research cut DXC Technology from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 12th. Stifel Nicolaus set a $12.00 target price on DXC Technology in a research note on Friday, May 8th. TD Cowen lowered their target price on DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Weiss Ratings cut DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Six analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, DXC Technology currently has a consensus rating of “Reduce” and a consensus target price of $12.75.

DXC Technology Trading Down 2.4%

Shares of NYSE DXC opened at $9.01 on Thursday. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 150.08 and a beta of 0.81. The business has a 50 day simple moving average of $10.44 and a 200 day simple moving average of $12.59. DXC Technology Company. has a 52 week low of $7.90 and a 52 week high of $16.45. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.36 and a current ratio of 1.36.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 earnings per share. On average, research analysts predict that DXC Technology Company. will post 2.64 earnings per share for the current fiscal year.

DXC Technology Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.