DXC Technology (NYSE:DXC) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its position in DXC Technology (NYSE:DXC - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,557 shares of the company's stock after selling 395,762 shares during the period. Bank of America Corp DE owned approximately 0.11% of DXC Technology worth $4,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in DXC Technology by 83.2% in the 4th quarter. BNP Paribas Financial Markets now owns 23,464 shares of the company's stock valued at $469,000 after buying an additional 10,657 shares during the last quarter. Algert Global LLC grew its position in DXC Technology by 332.8% in the 4th quarter. Algert Global LLC now owns 305,625 shares of the company's stock valued at $6,106,000 after buying an additional 235,015 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of DXC Technology by 30.8% during the 4th quarter. Alyeska Investment Group L.P. now owns 326,586 shares of the company's stock worth $6,525,000 after purchasing an additional 76,836 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of DXC Technology by 43.8% during the 4th quarter. AQR Capital Management LLC now owns 1,943,649 shares of the company's stock worth $38,834,000 after purchasing an additional 591,841 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of DXC Technology by 14.6% during the 4th quarter. Northern Trust Corp now owns 1,607,631 shares of the company's stock worth $32,120,000 after purchasing an additional 204,697 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Down 1.7%

Shares of DXC traded down $0.26 during trading on Friday, reaching $15.20. The company's stock had a trading volume of 2,212,999 shares, compared to its average volume of 1,650,045. The company has a fifty day moving average of $15.50 and a two-hundred day moving average of $18.64. DXC Technology has a twelve month low of $13.44 and a twelve month high of $24.83. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -36.19, a P/E/G ratio of 1.16 and a beta of 1.18. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12.

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

Wall Street Analyst Weigh In

DXC has been the topic of several research analyst reports. Wall Street Zen lowered shares of DXC Technology from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Guggenheim restated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. Morgan Stanley decreased their target price on shares of DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 15th. Royal Bank of Canada decreased their target price on shares of DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Finally, BMO Capital Markets dropped their price target on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $17.00.

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).