Towle & Co. Lowers Holdings in DXC Technology (NYSE:DXC)

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

A number of other institutional investors have also modified their holdings of the company. Two Sigma Investments LP lifted its stake in DXC Technology by 24.5% during the 4th quarter. Two Sigma Investments LP now owns 31,499 shares of the company's stock valued at $629,000 after acquiring an additional 6,200 shares during the period. Raiffeisen Bank International AG purchased a new stake in DXC Technology in the 4th quarter worth $485,000. Quantinno Capital Management LP purchased a new stake in DXC Technology in the 4th quarter worth $268,000. Millennium Management LLC boosted its stake in DXC Technology by 195.4% during the 4th quarter. Millennium Management LLC now owns 88,556 shares of the company's stock worth $1,769,000 after purchasing an additional 58,576 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in DXC Technology by 12.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 368,900 shares of the company's stock worth $7,371,000 after purchasing an additional 41,838 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Price Performance

DXC Technology stock traded up $0.47 during midday trading on Thursday, reaching $15.23. The company's stock had a trading volume of 2,170,125 shares, compared to its average volume of 1,674,005. DXC Technology has a fifty-two week low of $13.44 and a fifty-two week 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 stock's 50 day simple moving average is $15.79 and its 200 day simple moving average is $18.96. The firm has a market capitalization of $2.76 billion, a PE ratio of -36.26, a P/E/G ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly 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 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 quarter in the previous year, the company posted $0.97 EPS. The business's revenue was down 6.4% on a year-over-year basis. On average, equities research analysts forecast that DXC Technology will post 3.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DXC shares. BMO Capital Markets cut their price target on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research note on Thursday, May 15th. Royal Bank of Canada dropped their price target on shares of DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Wall Street Zen lowered shares of DXC Technology from a "buy" rating to a "hold" rating in a research note on Thursday. Susquehanna decreased their price objective on DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a report on Wednesday, April 23rd. Finally, Guggenheim reaffirmed a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $17.00.

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).