Franklin Resources Inc. Has $188.01 Million Stock Position in DXC Technology (NYSE:DXC)

Franklin Resources Inc. decreased its stake in shares of DXC Technology (NYSE:DXCFree Report) by 51.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,220,896 shares of the company’s stock after selling 8,711,218 shares during the period. Franklin Resources Inc. owned 4.50% of DXC Technology worth $188,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DXC. Invesco Ltd. lifted its position in DXC Technology by 9.5% during the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock valued at $355,784,000 after purchasing an additional 1,478,484 shares during the period. Dimensional Fund Advisors LP lifted its position in DXC Technology by 19.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock valued at $193,679,000 after purchasing an additional 1,386,314 shares during the period. Pacer Advisors Inc. lifted its position in DXC Technology by 86.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after purchasing an additional 3,827,176 shares during the period. LSV Asset Management lifted its position in DXC Technology by 0.7% during the 3rd quarter. LSV Asset Management now owns 3,553,327 shares of the company’s stock valued at $74,016,000 after purchasing an additional 25,579 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in DXC Technology by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock valued at $62,342,000 after purchasing an additional 8,235 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DXC shares. Royal Bank of Canada cut their price target on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a research report on Friday, May 17th. Stifel Nicolaus cut their price target on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 17th. JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and cut their price target for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. TD Cowen cut their price target on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets cut their price target on shares of DXC Technology from $23.00 to $17.50 and set a “market perform” rating on the stock in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.77.

Read Our Latest Analysis on DXC Technology

Insider Transactions at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the completion of the transaction, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.87% of the company’s stock.

DXC Technology Price Performance

NYSE DXC opened at $16.55 on Thursday. The business has a 50 day simple moving average of $20.04 and a 200 day simple moving average of $21.65. DXC Technology has a 52-week low of $15.44 and a 52-week high of $28.89. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.11 and a current ratio of 1.17. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 44.38, a PEG ratio of 1.82 and a beta of 1.85.

DXC Technology (NYSE:DXCGet Free Report) last posted its earnings results on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.14. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the business earned $1.02 EPS. DXC Technology’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts anticipate that DXC Technology will post 2.73 earnings per share for the current fiscal year.

DXC Technology Profile

(Free Report)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).

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

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