Meyer Handelman Co. Reduces Position in DXC Technology Co (DXC)

Meyer Handelman Co. lowered its position in DXC Technology Co (NYSE:DXC) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,036 shares of the company’s stock after selling 214 shares during the period. Meyer Handelman Co.’s holdings in DXC Technology were worth $1,065,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DXC. Strategic Wealth Partners Ltd. increased its holdings in DXC Technology by 3,925.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 322 shares of the company’s stock worth $30,000 after buying an additional 314 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in DXC Technology by 148.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 585 shares of the company’s stock worth $31,000 after purchasing an additional 350 shares during the period. IMS Capital Management bought a new stake in DXC Technology during the third quarter worth approximately $36,000. Mondrian Capital Management LLC bought a new stake in DXC Technology during the fourth quarter worth approximately $53,000. Finally, CWM LLC boosted its position in DXC Technology by 144.8% during the fourth quarter. CWM LLC now owns 1,170 shares of the company’s stock worth $62,000 after purchasing an additional 692 shares during the period. Hedge funds and other institutional investors own 88.27% of the company’s stock.

Shares of DXC traded down $1.72 during mid-day trading on Monday, hitting $67.49. The company’s stock had a trading volume of 4,750 shares, compared to its average volume of 1,943,655. DXC Technology Co has a one year low of $49.19 and a one year high of $107.85. The company has a current ratio of 1.00, a quick ratio of 1.04 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $19.39 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 1.28 and a beta of 1.53.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, February 7th. The company reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.19. DXC Technology had a return on equity of 19.78% and a net margin of 7.09%. The company had revenue of $5.18 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period in the prior year, the business earned $1.86 earnings per share. DXC Technology’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts predict that DXC Technology Co will post 8.2 EPS for the current year.

DXC has been the subject of a number of recent analyst reports. ValuEngine cut DXC Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $83.00 target price on shares of DXC Technology in a research report on Tuesday, November 13th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $70.00 target price on shares of DXC Technology in a research report on Monday, January 7th. BMO Capital Markets reaffirmed a “buy” rating on shares of DXC Technology in a research report on Wednesday, October 24th. Finally, Berenberg Bank decreased their target price on DXC Technology to $80.00 and set a “hold” rating for the company in a research report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $91.42.

TRADEMARK VIOLATION NOTICE: This article was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this article on another publication, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2019/02/11/meyer-handelman-co-reduces-position-in-dxc-technology-co-dxc.html.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

Featured Story: Cost of Equity

Want to see what other hedge funds are holding DXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DXC Technology Co (NYSE:DXC).

Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply