Bank of New York Mellon Corp Has $11.58 Million Position in DXC Technology Company. $DXC

Key Points

• Bank of New York Mellon increased its DXC Technology stake by 10.9% in the second quarter, owning 1.31 million shares valued at approximately $11.58 million. Institutional investors collectively hold 96.2% of the company’s stock.
• Analyst sentiment remains cautious: seven analysts rate DXC a hold and two rate it a sell, producing a consensus rating of “Reduce” and an average price target of $12.21.
• DXC reported quarterly EPS of $0.40, slightly below the $0.41 consensus, while revenue of $3.0 billion exceeded estimates. Revenue declined 5% year over year, and the stock recently opened at $11.16.

Bank of New York Mellon Corp increased its position in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,308,047 shares of the company's stock after acquiring an additional 129,005 shares during the period. Bank of New York Mellon Corp owned about 0.82% of DXC Technology worth $11,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. Royal Bank of Canada grew its position in DXC Technology by 156.3% in the first quarter. Royal Bank of Canada now owns 99,930 shares of the company's stock valued at $1,703,000 after acquiring an additional 60,935 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of DXC Technology by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company's stock valued at $21,134,000 after purchasing an additional 49,228 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of DXC Technology by 4.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 735,597 shares of the company's stock valued at $12,542,000 after purchasing an additional 34,544 shares during the last quarter. Creative Planning grew its holdings in shares of DXC Technology by 83.9% during the 2nd quarter. Creative Planning now owns 21,863 shares of the company's stock valued at $334,000 after purchasing an additional 9,972 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in DXC Technology by 240.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company's stock worth $27,000 after purchasing an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company's stock.

Analyst Ratings Changes

DXC has been the subject of several research analyst reports. Stifel Nicolaus lowered their price target on shares of DXC Technology from $12.00 to $10.50 and set a "hold" rating for the company in a report on Friday, July 31st. Morgan Stanley set a $12.00 price objective on DXC Technology in a research report on Monday, August 3rd. Royal Bank Of Canada lowered their target price on DXC Technology from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Friday, July 31st. TD Cowen increased their target price on DXC Technology from $10.00 to $12.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of DXC Technology in a research report on Friday, August 7th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $12.21.

DXC Technology Price Performance

DXC Technology stock opened at $11.16 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.41 and a quick ratio of 1.41. DXC Technology Company. has a one year low of $7.90 and a one year high of $15.68. The stock's 50 day moving average is $10.21 and its 200 day moving average is $10.84. The firm has a market cap of $1.78 billion, a P/E ratio of 15.94 and a beta of 0.79.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.01). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.99 billion. DXC Technology had a net margin of 0.99% and a return on equity of 15.60%. The business's revenue was down 5.0% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS. DXC Technology has set its Q2 2027 guidance at 0.550-0.550 EPS. As a group, research analysts expect that DXC Technology Company. will post 2.61 EPS for the current year.

About DXC Technology

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology's core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source