State Street Corp Sells 24,556 Shares of DXC Technology (NYSE:DXC)

State Street Corp reduced its stake in DXC Technology (NYSE:DXC) by 0.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,353,591 shares of the company’s stock after selling 24,556 shares during the quarter. State Street Corp’s holdings in DXC Technology were worth $131,837,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in shares of DXC Technology by 352.6% in the 2nd quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock valued at $11,935,000 after purchasing an additional 487,072 shares during the period. Point72 Asset Management L.P. bought a new stake in DXC Technology in the 3rd quarter valued at approximately $1,438,000. Susquehanna Fundamental Investments LLC acquired a new position in DXC Technology during the 2nd quarter worth approximately $3,483,000. Dynamic Technology Lab Private Ltd acquired a new position in DXC Technology during the 3rd quarter worth approximately $1,904,000. Finally, Royce & Associates LP grew its stake in shares of DXC Technology by 124.7% during the 3rd quarter. Royce & Associates LP now owns 91,971 shares of the company’s stock worth $1,908,000 after acquiring an additional 51,041 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Trading Down 1.2 %

Shares of NYSE:DXC opened at $21.46 on Friday. The company has a 50-day simple moving average of $21.25 and a 200 day simple moving average of $20.00. The company has a market capitalization of $3.88 billion, a P/E ratio of 268.28, a price-to-earnings-growth ratio of 1.40 and a beta of 1.65. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. DXC Technology has a 52-week low of $14.78 and a 52-week high of $25.14.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same quarter last year, the company posted $0.70 EPS. Sell-side analysts forecast that DXC Technology will post 3.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on DXC shares. Susquehanna increased their target price on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, BMO Capital Markets upped their target price on DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, DXC Technology presently has an average rating of “Hold” and an average price target of $20.89.

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).