D. E. Shaw & Co. Inc. Reduces Stock Position in DXC Technology (NYSE:DXC)

D. E. Shaw & Co. Inc. trimmed its position in shares of DXC Technology (NYSE:DXC - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,460 shares of the company's stock after selling 31,699 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in DXC Technology were worth $1,568,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DXC. American Century Companies Inc. grew its position in DXC Technology by 18.5% during the fourth quarter. American Century Companies Inc. now owns 5,816,970 shares of the company's stock valued at $116,223,000 after buying an additional 907,004 shares during the period. Norges Bank purchased a new stake in shares of DXC Technology during the 4th quarter worth about $17,399,000. AQR Capital Management LLC grew 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 valued at $38,834,000 after acquiring an additional 591,841 shares during the period. Deutsche Bank AG increased its stake in shares of DXC Technology by 99.3% in the 4th quarter. Deutsche Bank AG now owns 1,173,407 shares of the company's stock valued at $23,445,000 after purchasing an additional 584,678 shares in the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in shares of DXC Technology in the 4th quarter valued at about $11,078,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DXC has been the topic of a number of recent analyst reports. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. Wall Street Zen lowered shares of DXC Technology from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Susquehanna reduced their price objective on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets decreased their price objective on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $17.00.

DXC Technology Price Performance

Shares of DXC traded up $0.66 during trading hours on Tuesday, hitting $15.41. 3,622,377 shares of the stock were exchanged, compared to its average volume of 1,675,550. The stock's 50-day moving average price is $15.60 and its two-hundred day moving average price is $18.77. DXC Technology has a 12-month low of $13.44 and a 12-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 company has a market cap of $2.79 billion, a price-to-earnings ratio of -36.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18.

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, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The company had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.13 billion. The firm's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 EPS. Research analysts expect that DXC Technology will post 3.35 earnings per share for the current year.

DXC Technology Profile

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).