Franklin Resources Inc. Purchases 124,403 Shares of DXC Technology (NYSE:DXC)

Franklin Resources Inc. boosted its position in shares of DXC Technology (NYSE:DXC) by 196.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 187,633 shares of the company’s stock after acquiring an additional 124,403 shares during the quarter. Franklin Resources Inc.’s holdings in DXC Technology were worth $3,749,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its position in shares of DXC Technology by 116.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company’s stock valued at $33,000 after acquiring an additional 900 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of DXC Technology in the fourth quarter worth about $55,000. Smartleaf Asset Management LLC grew its stake in shares of DXC Technology by 366.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company’s stock worth $60,000 after purchasing an additional 2,356 shares during the last quarter. Brown Lisle Cummings Inc. increased its holdings in DXC Technology by 60.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company’s stock valued at $64,000 after purchasing an additional 1,200 shares during the period. Finally, Matrix Trust Co raised its position in DXC Technology by 347.2% during the 4th quarter. Matrix Trust Co now owns 9,343 shares of the company’s stock valued at $187,000 after purchasing an additional 7,254 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Wall Street Analyst Weigh In

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

DXC Technology Price Performance

DXC stock opened at $14.43 on Friday. The firm has a 50-day moving average of $17.93 and a 200 day moving average of $19.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $2.61 billion, a P/E ratio of -34.36, a PEG ratio of 1.16 and a beta of 1.37. DXC Technology has a 1 year low of $13.44 and a 1 year high of $24.83.

DXC Technology (NYSE:DXC) last announced its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, sell-side analysts forecast that DXC Technology will post 3.35 EPS for the current year.

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).