Bank of America Corp DE Purchases 1,322,726 Shares of DXC Technology Company. $DXC

Key Points

• Bank of America purchased 1,322,726 shares of DXC Technology worth approximately $11.7 million, acquiring a 0.83% stake. Institutional investors and hedge funds collectively own 96.2% of the company.
• DXC reported quarterly EPS of $0.40, slightly below the $0.41 consensus estimate, while revenue reached $3.0 billion but fell 5% year over year.
• Analysts remain cautious, with the stock carrying a consensus “Reduce” rating and an average price target of $12.21, compared with a recent share price of $10.65.

Bank of America Corp DE purchased a new position in shares of DXC Technology Company. (NYSE:DXC - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,322,726 shares of the company's stock, valued at approximately $11,706,000. Bank of America Corp DE owned 0.83% of DXC Technology at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DXC. BlackRock Inc. raised its stake in shares of DXC Technology by 21.5% in the 2nd quarter. BlackRock Inc. now owns 28,276,735 shares of the company's stock valued at $250,249,000 after acquiring an additional 4,994,936 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of DXC Technology by 2.6% during the first quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company's stock worth $126,068,000 after buying an additional 258,819 shares during the period. Bank of New York Mellon Corp boosted its position in shares of DXC Technology by 10.9% during the second quarter. Bank of New York Mellon Corp now owns 1,308,047 shares of the company's stock worth $11,576,000 after buying an additional 129,005 shares during the period. SG Americas Securities LLC grew its stake in shares of DXC Technology by 42.0% in the first quarter. SG Americas Securities LLC now owns 1,068,547 shares of the company's stock valued at $13,432,000 after buying an additional 316,218 shares in the last quarter. Finally, SEB Asset Management AB acquired a new stake in shares of DXC Technology in the first quarter valued at $12,103,000. 96.20% of the stock is owned by institutional investors and hedge funds.

DXC Technology Price Performance

DXC stock opened at $10.65 on Friday. The business has a 50 day moving average price of $10.92 and a 200 day moving average price of $10.66. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 15.22 and a beta of 0.80. DXC Technology Company. has a fifty-two week low of $7.90 and a fifty-two week high of $15.68.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). DXC Technology had a net margin of 0.99% and a return on equity of 15.60%. The company had revenue of $3 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. DXC Technology has set its Q2 2027 guidance at 0.550-0.550 EPS. Equities research analysts anticipate that DXC Technology Company. will post 2.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on DXC. Morgan Stanley set a $12.00 price objective on DXC Technology in a report on Monday, August 3rd. Zacks Research raised DXC Technology from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Stifel Nicolaus cut their price target on shares of DXC Technology from $12.00 to $10.50 and set a "hold" rating on the stock in a research note on Friday, July 31st. Weiss Ratings reiterated a "sell (d)" rating on shares of DXC Technology in a research note on Friday, August 7th. Finally, TD Cowen increased their price target on shares of DXC Technology from $10.00 to $12.00 and gave the stock a "hold" rating in a research report on Monday, August 3rd. Seven research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $12.21.

DXC Technology Profile

DXC Technology NYSE: DXC is a global information technology services company that helps businesses and government organizations modernize, manage and secure their technology environments. Its services include IT consulting, systems integration, application development and modernization, cloud computing, cybersecurity, data and analytics, and managed infrastructure.

The company also provides workplace and end-user computing services, enterprise application services, and technology support for complex operating environments.

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