DXC Tech (DXC) seeing recent accumulation from director Raul Fernandez of more than 23,000 shares from $34 to $41, more than $900K in stock, starting in mid-August and latest buys on 9/1. DXC has pulled back from recent highs and just above the 200-MA after trading well in 2021 up over 40%. A move back above $38 and out of this bull wedge has room to run to $42+ and then an extension of the recent trend to $50. The $8.92B company trades 8.5X earnings, 0.5X sales, and 3.6X cash. DXC provides analytics services for businesses including assistance in automation and digital transformation. The company rejected a proposed deal from Atos SE in late 2020 and instead moving forward with a transformation plan that includes investments and focus on their IT services business. They have also divested low-growth businesses like their state and local health units and their healthcare software business. DXC has started to see progress in their enterprise business and margin expansion while positioning themselves well to grab market share in FY24/FY25. Analysts have an average target for shares of $42 with a Street High $53. Susquehanna upgrading to Positive on 8/24 as the firm thinks cost cuts will drive higher earnings and expanded EBIT margins while a deeper look at DXC reveals a cost structure that remains bloated. The analyst sees $400M-$600M of potential cost savings and a CFO starting to get it done. JP Morgan downgrading to Underweight on 8/17 citing a more cautious stance on restructuring stories on the notion that the war for talent creates a relative disadvantage for turnarounds versus cleaner growth stories. Hedge fund ownership fell 15% last quarter. Glenview Capital and Miller Value top holders. DXC has seen some bullish flows recently including buyers in the Sept. $34 and $35 calls on 9/1 and the January 2023 $45 calls bought 1850X on 9/3 for $865K.