Charles Schwab Investment Management Inc. Reduces Holdings in DXC Technology (NYSE:DXC)

Charles Schwab Investment Management Inc. reduced its stake in shares of DXC Technology (NYSE:DXC - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,210,241 shares of the company's stock after selling 331,016 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.14% of DXC Technology worth $50,548,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. raised its holdings in DXC Technology by 9.5% in the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company's stock worth $355,784,000 after acquiring an additional 1,478,484 shares during the period. Pacer Advisors Inc. increased its position in DXC Technology by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company's stock worth $188,317,000 after buying an additional 3,827,176 shares during the period. LSV Asset Management lifted its holdings in shares of DXC Technology by 0.7% during the third quarter. LSV Asset Management now owns 3,553,327 shares of the company's stock worth $74,016,000 after buying an additional 25,579 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of DXC Technology by 0.3% in the third quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company's stock valued at $62,342,000 after acquiring an additional 8,235 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of DXC Technology by 3,407.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,411,199 shares of the company's stock worth $29,395,000 after acquiring an additional 1,370,962 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Price Performance

Shares of DXC stock traded down $3.36 during trading hours on Friday, reaching $16.52. 13,471,354 shares of the company were exchanged, compared to its average volume of 1,687,745. DXC Technology has a fifty-two week low of $15.70 and a fifty-two week high of $28.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The stock's fifty day moving average is $20.33 and its two-hundred day moving average is $21.76. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 44.65, a P/E/G ratio of 1.79 and a beta of 1.85.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.14. The firm had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.37 billion. DXC Technology had a return on equity of 17.88% and a net margin of 0.67%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.02 EPS. Sell-side analysts forecast that DXC Technology will post 3.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the transaction, the executive vice president now directly owns 124,806 shares of the company's stock, valued at $2,712,034.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.87% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DXC shares. Morgan Stanley reduced their price target on shares of DXC Technology from $21.00 to $18.00 and set an "equal weight" rating for the company in a report on Friday. JPMorgan Chase & Co. lowered DXC Technology from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. BMO Capital Markets cut their target price on DXC Technology from $23.00 to $17.50 and set a "market perform" rating for the company in a research note on Friday. Royal Bank of Canada decreased their price target on shares of DXC Technology from $24.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, Stifel Nicolaus dropped their price objective on shares of DXC Technology from $21.00 to $19.00 and set a "hold" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to data from MarketBeat.com, DXC Technology has a consensus rating of "Hold" and an average target price of $20.41.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).