PNC Financial Services Group Inc. Sells 13,770 Shares of DXC Technology (NYSE:DXC)

PNC Financial Services Group Inc. lowered its stake in shares of DXC Technology (NYSE:DXC) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,030 shares of the company’s stock after selling 13,770 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DXC Technology were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of DXC Technology in the 4th quarter valued at about $51,000. Principal Financial Group Inc. lifted its holdings in shares of DXC Technology by 323.0% during the 4th quarter. Principal Financial Group Inc. now owns 997,769 shares of the company’s stock valued at $22,819,000 after purchasing an additional 761,884 shares during the last quarter. State of Alaska Department of Revenue raised its stake in DXC Technology by 388.6% in the fourth quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock valued at $2,724,000 after buying an additional 94,748 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in DXC Technology in the fourth quarter worth about $1,472,000. Finally, Quadrant Capital Group LLC grew its stake in shares of DXC Technology by 450.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,618 shares of the company’s stock worth $151,000 after acquiring an additional 5,415 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DXC shares. Royal Bank of Canada lowered their target price on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating for the company in a research note on Friday, May 17th. Stifel Nicolaus dropped their price objective on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday, May 17th. Guggenheim began coverage on DXC Technology in a research note on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 target price for the company. TD Cowen dropped their price target on DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday, May 21st. Finally, BMO Capital Markets reduced their price objective on DXC Technology from $23.00 to $17.50 and set a “market perform” rating for the company in a research note on Friday, May 17th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.14.

DXC Technology Stock Performance

Shares of NYSE DXC opened at $18.74 on Monday. DXC Technology has a 1 year low of $14.78 and a 1 year high of $28.89. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.17 and a current ratio of 1.17. The company’s fifty day moving average price is $18.26 and its 200 day moving average price is $20.73. The company has a market capitalization of $3.38 billion, a PE ratio of 50.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.73.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, May 16th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.14. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. DXC Technology’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 EPS. On average, research analysts predict that DXC Technology will post 2.73 earnings per share for the current year.

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).