Ameriprise Financial Inc. Sells 40,986 Shares of DXC Technology (NYSE:DXC)

Ameriprise Financial Inc. lowered its position in shares of DXC Technology (NYSE:DXC - Free Report) by 8.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,881 shares of the company's stock after selling 40,986 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.25% of DXC Technology worth $8,969,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in shares of DXC Technology by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 48,733 shares of the company's stock valued at $974,000 after purchasing an additional 2,564 shares during the last quarter. KBC Group NV lifted its stake in DXC Technology by 2,380.1% in the fourth quarter. KBC Group NV now owns 142,505 shares of the company's stock valued at $2,847,000 after buying an additional 136,759 shares in the last quarter. Twelve Points Wealth Management LLC lifted its stake in DXC Technology by 20.9% in the fourth quarter. Twelve Points Wealth Management LLC now owns 83,467 shares of the company's stock valued at $1,668,000 after buying an additional 14,445 shares in the last quarter. Highland Capital Management LLC lifted its stake in DXC Technology by 6.6% in the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company's stock valued at $237,000 after buying an additional 731 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its holdings in shares of DXC Technology by 60.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock valued at $64,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on shares of DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Wall Street Zen cut shares of DXC Technology from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, BMO Capital Markets dropped their target price on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.00.

DXC Technology Trading Down 2.8%

Shares of DXC Technology stock traded down $0.42 on Monday, hitting $14.75. The stock had a trading volume of 1,430,999 shares, compared to its average volume of 1,667,731. The stock has a 50 day moving average of $15.64 and a 200 day moving average of $18.79. DXC Technology has a twelve month low of $13.44 and a twelve month high of $24.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market capitalization of $2.67 billion, a P/E ratio of -35.11, a PEG ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The company's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 EPS. Sell-side analysts expect that DXC Technology will post 3.35 earnings per share for the current fiscal 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).