Gladius Capital Management LP Invests $750,000 in DXC Technology (NYSE:DXC)

Gladius Capital Management LP purchased a new position in shares of DXC Technology (NYSE:DXC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 39,283 shares of the company’s stock, valued at approximately $750,000. DXC Technology makes up 0.1% of Gladius Capital Management LP’s portfolio, making the stock its 16th biggest position.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC acquired a new stake in DXC Technology during the 4th quarter valued at $242,000. Louisiana State Employees Retirement System acquired a new stake in DXC Technology during the 4th quarter valued at $2,216,000. Strs Ohio acquired a new stake in DXC Technology during the 4th quarter valued at $1,035,000. Mackenzie Financial Corp lifted its holdings in DXC Technology by 6.3% during the 4th quarter. Mackenzie Financial Corp now owns 1,010,463 shares of the company’s stock valued at $23,109,000 after purchasing an additional 59,588 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in DXC Technology by 5.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,385 shares of the company’s stock valued at $1,015,000 after purchasing an additional 2,258 shares during the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

DXC Technology stock traded down $0.35 during midday trading on Friday, reaching $19.28. The company’s stock had a trading volume of 1,664,949 shares, compared to its average volume of 2,478,015. DXC Technology has a 52 week low of $14.78 and a 52 week high of $25.14. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.25. The business has a 50-day moving average price of $19.01 and a 200-day moving average price of $19.62. The stock has a market cap of $3.48 billion, a PE ratio of 52.11, a price-to-earnings-growth ratio of 2.27 and a beta of 1.73.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.37 billion. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.02 earnings per share. On average, sell-side analysts predict that DXC Technology will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DXC. Stifel Nicolaus cut their price target on DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 17th. Morgan Stanley dropped their target price on DXC Technology from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. TD Cowen dropped their target price on DXC Technology from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Royal Bank of Canada lifted their target price on DXC Technology from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. Finally, Susquehanna lifted their target price on DXC Technology from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.50.

Insider Buying and Selling

In related news, EVP Mary E. Finch sold 31,047 shares of DXC Technology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.36, for a total value of $601,069.92. Following the transaction, the executive vice president now directly owns 325,665 shares of the company’s stock, valued at $6,304,874.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

DXC Technology Profile

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).