Towle & Co. Sells 184,306 Shares of DXC Technology (NYSE:DXC)

Towle & Co. lowered its holdings in DXC Technology (NYSE:DXC - Free Report) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 787,263 shares of the company's stock after selling 184,306 shares during the quarter. DXC Technology comprises about 2.7% of Towle & Co.'s investment portfolio, making the stock its 16th largest position. Towle & Co. owned 0.43% of DXC Technology worth $15,730,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Newbridge Financial Services Group Inc. lifted 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 valued at $33,000 after acquiring an additional 900 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of DXC Technology during the fourth quarter valued at $55,000. Smartleaf Asset Management LLC lifted its stake in shares of DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after acquiring an additional 2,356 shares during the period. Brown Lisle Cummings Inc. lifted its stake in shares of DXC Technology by 60.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 3,200 shares of the company's stock valued at $64,000 after acquiring an additional 1,200 shares during the period. Finally, Quarry LP lifted its stake in shares of DXC Technology by 604.1% during the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock valued at $79,000 after acquiring an additional 3,413 shares during the period. Institutional investors and hedge funds own 96.20% of the company's stock.

DXC Technology Stock Down 2.8%

Shares of NYSE:DXC traded down $0.42 during mid-day trading on Friday, reaching $14.75. 1,430,999 shares of the stock were exchanged, compared to its average volume of 1,670,714. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The company has a market cap of $2.67 billion, a P/E ratio of -35.11, a P/E/G ratio of 1.16 and a beta of 1.18. DXC Technology has a one year low of $13.44 and a one year high of $24.83. The stock's 50 day simple moving average is $15.69 and its 200-day simple moving average is $18.89.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $0.97 earnings per share. DXC Technology's quarterly revenue was down 6.4% on a year-over-year basis. As a group, equities research analysts predict that DXC Technology will post 3.35 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on DXC shares. Susquehanna cut their target price on DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Guggenheim reissued a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Wall Street Zen lowered DXC Technology from a "buy" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. cut their target price on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley cut their target price on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target 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).