Nuveen Asset Management LLC Sells 75,729 Shares of DXC Technology (NYSE:DXC)

Nuveen Asset Management LLC trimmed its position in DXC Technology (NYSE:DXC - Free Report) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 670,755 shares of the company's stock after selling 75,729 shares during the period. Nuveen Asset Management LLC owned about 0.37% of DXC Technology worth $13,402,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. grew its stake in shares of DXC Technology by 116.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock worth $33,000 after purchasing an additional 900 shares during the period. Meeder Asset Management Inc. acquired a new stake in DXC Technology in the fourth quarter worth $55,000. Smartleaf Asset Management LLC grew its holdings in shares of DXC Technology by 366.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after buying an additional 2,356 shares during the period. Brown Lisle Cummings Inc. raised its stake in DXC Technology by 60.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock worth $64,000 after buying an additional 1,200 shares during the period. Finally, Quarry LP lifted its holdings in DXC Technology by 604.1% during the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock worth $79,000 after acquiring an additional 3,413 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Stock Performance

Shares of DXC traded down $0.22 during midday trading on Friday, reaching $15.24. 498,274 shares of the stock were exchanged, compared to its average volume of 1,655,511. The stock's 50 day simple moving average is $15.54 and its 200 day simple moving average is $18.69. The company has a market cap of $2.76 billion, a P/E ratio of -36.23, a PEG ratio of 1.16 and a beta of 1.18. DXC Technology has a twelve month low of $13.44 and a twelve month high of $24.83. 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 quarterly earnings data 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 negative net margin of 0.57% and a positive return on equity of 20.70%. The business had revenue of $3.17 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period last year, the firm posted $0.97 earnings per share. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts expect that DXC Technology will post 3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Guggenheim restated a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. JPMorgan Chase & Co. cut their price objective on shares of 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 downgraded DXC Technology from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Susquehanna reduced their price objective on 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, Morgan Stanley decreased their price objective on DXC Technology from $22.00 to $16.00 and set an "equal weight" 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 issued a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.00.

DXC Technology Company 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).