Bank of New York Mellon Corp Trims Stock Position in DXC Technology (NYSE:DXC)

Bank of New York Mellon Corp trimmed its stake in DXC Technology (NYSE:DXC - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,551,327 shares of the company's stock after selling 48,152 shares during the period. Bank of New York Mellon Corp owned 0.86% of DXC Technology worth $30,996,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its stake in DXC Technology by 24.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,519 shares of the company's stock valued at $322,000 after purchasing an additional 3,024 shares during the last quarter. Brooktree Capital Management grew its position in shares of DXC Technology by 2.4% in the 3rd quarter. Brooktree Capital Management now owns 92,751 shares of the company's stock worth $1,925,000 after buying an additional 2,150 shares during the last quarter. Royce & Associates LP raised its stake in shares of DXC Technology by 124.7% during the 3rd quarter. Royce & Associates LP now owns 91,971 shares of the company's stock worth $1,908,000 after acquiring an additional 51,041 shares in the last quarter. Natixis Advisors LLC lifted its position in DXC Technology by 22.3% during the third quarter. Natixis Advisors LLC now owns 223,376 shares of the company's stock valued at $4,635,000 after acquiring an additional 40,771 shares during the last quarter. Finally, Gladius Capital Management LP boosted its stake in DXC Technology by 21.0% in the third quarter. Gladius Capital Management LP now owns 47,552 shares of the company's stock valued at $987,000 after acquiring an additional 8,269 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

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DXC Technology Stock Performance

Shares of NYSE:DXC traded down $0.50 on Wednesday, hitting $17.03. 1,157,595 shares of the company were exchanged, compared to its average volume of 1,096,461. The firm has a market capitalization of $3.08 billion, a P/E ratio of -40.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.62. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 1-year low of $14.78 and a 1-year high of $24.83. The stock's 50 day moving average price is $20.13 and its 200 day moving average price is $20.70.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.23. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. Sell-side analysts predict that DXC Technology will post 3.35 EPS for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley upped their price target on DXC Technology from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, DXC Technology has an average rating of "Hold" and an average target price of $21.38.

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).