Geode Capital Management LLC Sells 229,663 Shares of DXC Technology (NYSE:DXC)

Geode Capital Management LLC lessened its stake in DXC Technology (NYSE:DXC) by 7.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,991,294 shares of the company’s stock after selling 229,663 shares during the period. Geode Capital Management LLC’s holdings in DXC Technology were worth $62,087,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of DXC. M&T Bank Corp raised its stake in shares of DXC Technology by 29.3% during the third quarter. M&T Bank Corp now owns 14,602 shares of the company’s stock valued at $303,000 after acquiring an additional 3,309 shares during the last quarter. Barclays PLC raised its position in DXC Technology by 273.6% during the 3rd quarter. Barclays PLC now owns 85,831 shares of the company’s stock valued at $1,781,000 after purchasing an additional 62,857 shares during the last quarter. XTX Topco Ltd raised its position in DXC Technology by 294.7% during the 3rd quarter. XTX Topco Ltd now owns 53,686 shares of the company’s stock valued at $1,114,000 after purchasing an additional 40,085 shares during the last quarter. RBF Capital LLC purchased a new stake in DXC Technology in the 3rd quarter worth approximately $622,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of DXC Technology during the third quarter valued at approximately $1,438,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DXC. Susquehanna lifted their target price on shares of DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. BMO Capital Markets boosted their target price on shares of DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. increased their price target 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. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, DXC Technology presently has a consensus rating of “Hold” and a consensus price target of $20.89.

DXC Technology Trading Down 4.1 %

Shares of DXC stock opened at $20.60 on Friday. The stock has a market capitalization of $3.73 billion, a P/E ratio of 257.53, a P/E/G ratio of 1.40 and a beta of 1.65. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. The firm’s 50 day moving average is $21.34 and its 200 day moving average is $20.17. DXC Technology has a 12-month low of $14.78 and a 12-month high of $24.83.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.93 EPS for the quarter, beating 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 return on equity of 20.42% and a net margin of 0.18%. During the same quarter in the prior year, the business earned $0.70 earnings per share. Research analysts expect that DXC Technology will post 3.18 earnings per share for the current year.

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).