Bridgewater Associates LP Sells 129,358 Shares of DXC Technology (NYSE:DXC)

Bridgewater Associates LP trimmed its holdings in shares of DXC Technology (NYSE:DXC - Free Report) by 40.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,637 shares of the company's stock after selling 129,358 shares during the period. Bridgewater Associates LP owned about 0.11% of DXC Technology worth $3,976,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its position in DXC Technology by 4.7% during the third quarter. Pacer Advisors Inc. now owns 20,140,488 shares of the company's stock valued at $417,915,000 after buying an additional 899,510 shares during the period. American Century Companies Inc. boosted its position in DXC Technology by 20.8% during the second quarter. American Century Companies Inc. now owns 3,991,295 shares of the company's stock valued at $76,194,000 after buying an additional 687,522 shares during the period. LSV Asset Management boosted its position in DXC Technology by 0.8% during the second quarter. LSV Asset Management now owns 3,436,128 shares of the company's stock valued at $65,596,000 after buying an additional 26,186 shares during the period. AQR Capital Management LLC boosted its position in DXC Technology by 11.3% during the second quarter. AQR Capital Management LLC now owns 2,117,753 shares of the company's stock valued at $39,898,000 after buying an additional 215,692 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in DXC Technology by 12.6% during the second quarter. Bank of New York Mellon Corp now owns 1,704,485 shares of the company's stock valued at $32,539,000 after buying an additional 191,101 shares during the period. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the sale, the senior vice president now owns 83,746 shares in the company, valued at approximately $1,789,652.02. This trade represents a 2.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

DXC Technology Stock Up 0.5 %

Shares of NYSE DXC traded up $0.12 on Friday, reaching $22.50. 502,865 shares of the company's stock traded hands, compared to its average volume of 2,087,726. DXC Technology has a 12 month low of $14.78 and a 12 month high of $25.14. The business's 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $19.63. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 281.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.21. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. The firm had revenue of $3.24 billion for the quarter, compared to analysts' expectations of $3.21 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. As a group, equities research analysts forecast that DXC Technology will post 3.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Susquehanna upped their price target on shares of DXC Technology from $19.00 to $23.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. BMO Capital Markets increased their price target on shares of DXC Technology from $22.00 to $25.00 and gave the stock a "market perform" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on shares of DXC Technology from $19.00 to $22.00 and gave the stock an "underweight" rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada increased their price target on shares of DXC Technology from $18.00 to $20.00 and gave the stock a "sector perform" rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $20.89.

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).