Geode Capital Management LLC Sells 229,663 Shares of DXC Technology (NYSE:DXC)

Geode Capital Management LLC cut its holdings in DXC Technology (NYSE:DXC - Free Report) by 7.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,991,294 shares of the company's stock after selling 229,663 shares during the period. Geode Capital Management LLC owned approximately 1.65% of DXC Technology worth $62,087,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new position in shares of DXC Technology during the 2nd quarter worth approximately $26,000. Fifth Third Bancorp grew its position in DXC Technology by 40.1% during the second quarter. Fifth Third Bancorp now owns 1,954 shares of the company's stock worth $37,000 after buying an additional 559 shares in the last quarter. Family Firm Inc. bought a new position in DXC Technology during the 2nd quarter worth $37,000. Matrix Trust Co acquired a new position in DXC Technology in the 3rd quarter valued at $43,000. Finally, Prospera Private Wealth LLC bought a new stake in shares of DXC Technology during the 3rd quarter valued at $49,000. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

Shares of NYSE DXC traded down $0.89 during midday trading on Friday, reaching $20.60. 4,258,840 shares of the company were exchanged, compared to its average volume of 2,027,424. DXC Technology has a one year low of $14.78 and a one year high of $24.83. The stock has a market cap of $3.73 billion, a P/E ratio of 257.53, a PEG ratio of 1.40 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The stock's 50-day moving average price is $21.34 and its 200-day moving average price is $20.20.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.21. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same quarter last year, the business earned $0.70 EPS. On average, sell-side analysts anticipate that DXC Technology will post 3.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

DXC has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on DXC Technology from $19.00 to $22.00 and gave the company an "underweight" rating in a research note on Friday, September 6th. Susquehanna upped their price target on shares of DXC Technology from $19.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, 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 report on Monday, November 11th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.89.

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).