DXC Technology (NYSE:DXC) Position Cut by Rhumbline Advisers

Rhumbline Advisers trimmed its position in DXC Technology (NYSE:DXC) by 8.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 477,046 shares of the company’s stock after selling 42,660 shares during the period. Rhumbline Advisers’ holdings in DXC Technology were worth $9,107,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its position in DXC Technology by 55.0% in the second quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock worth $35,000 after purchasing an additional 581 shares during the period. Family Firm Inc. acquired a new stake in shares of DXC Technology during the 2nd quarter valued at $37,000. Fifth Third Bancorp lifted its position in shares of DXC Technology by 40.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after acquiring an additional 559 shares during the last quarter. Quarry LP acquired a new stake in shares of DXC Technology during the 4th quarter valued at $51,000. Finally, Innealta Capital LLC acquired a new stake in shares of DXC Technology during the 2nd quarter valued at $96,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DXC has been the subject of a number of recent research reports. Stifel Nicolaus cut their price objective on DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday, May 17th. Susquehanna increased their price objective on DXC Technology from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, June 12th. Royal Bank of Canada increased their price objective on DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. TD Cowen cut their price objective on DXC Technology from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Finally, JPMorgan Chase & Co. increased their price objective on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Three research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.30.

DXC Technology Price Performance

Shares of NYSE:DXC opened at $20.77 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.21. DXC Technology has a 1 year low of $14.78 and a 1 year high of $25.14. The business has a fifty day simple moving average of $19.79 and a 200 day simple moving average of $19.47. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of 56.14, a P/E/G ratio of 1.82 and a beta of 1.67.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.17. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.14 billion. As a group, sell-side analysts predict that DXC Technology will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at DXC Technology

In related news, EVP Mary E. Finch sold 31,047 shares of DXC Technology stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the sale, the executive vice president now directly owns 325,665 shares of the company’s stock, valued at $6,304,874.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

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).