Mackenzie Financial Corp Sells 73,855 Shares of DXC Technology (NYSE:DXC)

Mackenzie Financial Corp reduced its position in shares of DXC Technology (NYSE:DXC) by 7.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 899,091 shares of the company’s stock after selling 73,855 shares during the period. Mackenzie Financial Corp owned about 0.50% of DXC Technology worth $17,964,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in DXC Technology by 17.3% during the 4th quarter. US Bancorp DE now owns 13,406 shares of the company’s stock valued at $268,000 after purchasing an additional 1,977 shares in the last quarter. Sterling Capital Management LLC raised its position in DXC Technology by 55.4% in the 4th quarter. Sterling Capital Management LLC now owns 10,748 shares of the company’s stock valued at $215,000 after purchasing an additional 3,833 shares during the last quarter. Principal Financial Group Inc. raised its position in DXC Technology by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 877,399 shares of the company’s stock valued at $17,530,000 after purchasing an additional 25,573 shares during the last quarter. Royce & Associates LP raised its position in DXC Technology by 35.7% in the 4th quarter. Royce & Associates LP now owns 124,813 shares of the company’s stock valued at $2,494,000 after purchasing an additional 32,842 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in DXC Technology by 86.9% in the 4th quarter. State of Alaska Department of Revenue now owns 192,880 shares of the company’s stock valued at $3,853,000 after purchasing an additional 89,698 shares during the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

Shares of DXC opened at $14.75 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 1 year low of $13.44 and a 1 year high of $24.83. The stock has a market cap of $2.67 billion, a P/E ratio of -35.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. The stock’s 50-day moving average price is $15.64 and its two-hundred day moving average price is $18.79.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Guggenheim reissued a “neutral” rating on shares of DXC Technology in a report on Monday, May 12th. Royal Bank of Canada decreased their price objective on shares of DXC Technology from $27.00 to $18.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Susquehanna decreased their price objective on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. BMO Capital Markets reduced their price objective on DXC Technology from $26.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. reduced their price objective on DXC Technology from $22.00 to $18.00 and set an “underweight” rating on the stock in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. According to MarketBeat, DXC Technology has a consensus rating of “Hold” and a consensus price target of $17.00.

DXC Technology Company 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).