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

Geode Capital Management LLC cut its holdings in DXC Technology (NYSE:DXC) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,991,294 shares of the company’s stock after selling 229,663 shares during the quarter. Geode Capital Management LLC owned about 1.65% of DXC Technology worth $62,087,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Pacer Advisors Inc. grew its stake in shares of DXC Technology by 30.4% in the second quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock valued at $367,310,000 after buying an additional 4,489,924 shares in the last quarter. Marshall Wace LLP grew its stake in DXC Technology by 1,047.3% in the 2nd quarter. Marshall Wace LLP now owns 820,585 shares of the company’s stock valued at $15,665,000 after buying an additional 749,060 shares during the last quarter. American Century Companies Inc. raised its holdings in DXC Technology by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock valued at $76,194,000 after acquiring an additional 687,522 shares during the period. Millennium Management LLC lifted its position in DXC Technology by 352.6% during the second quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock worth $11,935,000 after acquiring an additional 487,072 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of DXC Technology by 3,173.3% during the second quarter. Canada Pension Plan Investment Board now owns 451,712 shares of the company’s stock worth $8,623,000 after acquiring an additional 437,912 shares during the period. Institutional investors own 96.20% of the company’s stock.

Analyst Ratings Changes

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

DXC Technology Stock Performance

Shares of DXC opened at $20.60 on Friday. DXC Technology has a 1 year low of $14.78 and a 1 year high of $24.83. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average price is $21.34 and its two-hundred day moving average price is $20.17. The firm has a market cap of $3.73 billion, a PE ratio of 257.53, a PEG ratio of 1.40 and a beta of 1.65.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.21. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same period in the previous year, the business earned $0.70 EPS. On average, equities research analysts forecast that DXC Technology will post 3.18 EPS for the current year.

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).