Lee Danner & Bass Inc. Reduces Stake in DXC Technology (NYSE:DXC)

Lee Danner & Bass Inc. reduced its position in DXC Technology (NYSE:DXC) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,935 shares of the company’s stock after selling 21,051 shares during the period. Lee Danner & Bass Inc. owned approximately 0.09% of DXC Technology worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of DXC. Arizona State Retirement System lifted its position in DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company’s stock valued at $1,048,000 after purchasing an additional 566 shares in the last quarter. Highland Capital Management LLC lifted its position in DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company’s stock valued at $237,000 after purchasing an additional 731 shares in the last quarter. Corient Private Wealth LLC lifted its position in DXC Technology by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company’s stock valued at $655,000 after purchasing an additional 740 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in DXC Technology by 116.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock valued at $33,000 after purchasing an additional 900 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in DXC Technology by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 17,976 shares of the company’s stock valued at $359,000 after purchasing an additional 950 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Price Performance

NYSE:DXC opened at $17.13 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The business’s 50-day simple moving average is $19.72 and its two-hundred day simple moving average is $20.53. The stock has a market cap of $3.10 billion, a PE ratio of -40.79, a P/E/G ratio of 1.16 and a beta of 1.62. DXC Technology has a 52 week low of $14.79 and a 52 week high of $24.83.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.23. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. As a group, analysts forecast that DXC Technology will post 3.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lifted their target price on DXC Technology from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.29.

About DXC Technology

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).