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

State Street Corp trimmed its position in shares of DXC Technology (NYSE:DXC) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,353,591 shares of the company’s stock after selling 24,556 shares during the quarter. State Street Corp owned approximately 3.51% of DXC Technology worth $131,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of DXC. RBF Capital LLC acquired a new position in shares of DXC Technology in the 3rd quarter worth approximately $622,000. Point72 Asset Management L.P. acquired a new position in DXC Technology in the third quarter worth $1,438,000. Benjamin Edwards Inc. bought a new stake in shares of DXC Technology during the third quarter worth $664,000. Qsemble Capital Management LP acquired a new stake in shares of DXC Technology in the third quarter valued at $218,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of DXC Technology in the third quarter valued at about $1,904,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

Wall Street Analyst Weigh In

DXC has been the topic of a number of research analyst reports. BMO Capital Markets increased their price objective on shares of DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. Finally, Susquehanna increased their price objective on DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.89.

DXC Technology Stock Performance

Shares of DXC Technology stock opened at $21.46 on Friday. The firm has a fifty day moving average of $21.25 and a two-hundred day moving average of $20.00. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 268.28, a PEG ratio of 1.40 and a beta of 1.65. DXC Technology has a 52 week low of $14.78 and a 52 week high of $25.14.

DXC Technology (NYSE:DXC) last released 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. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, equities research analysts predict that DXC Technology will post 3.18 EPS for the current year.

DXC Technology 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).