PNC Financial Services Group Inc. Lowers Position in DXC Technology Company. (NYSE:DXC)

PNC Financial Services Group Inc. lessened its stake in DXC Technology Company. (NYSE:DXC) by 20.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,539 shares of the company’s stock after selling 6,179 shares during the quarter. PNC Financial Services Group Inc.’s holdings in DXC Technology were worth $418,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC purchased a new position in shares of DXC Technology in the first quarter worth $33,000. Wealthquest Corp purchased a new position in shares of DXC Technology in the first quarter worth $49,000. Quarry LP lifted its holdings in shares of DXC Technology by 604.1% in the fourth quarter. Quarry LP now owns 3,978 shares of the company’s stock worth $79,000 after buying an additional 3,413 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of DXC Technology by 37.4% in the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company’s stock worth $77,000 after buying an additional 1,226 shares in the last quarter. Finally, Trajan Wealth LLC purchased a new position in shares of DXC Technology in the fourth quarter worth $206,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Price Performance

DXC Technology stock opened at $13.79 on Friday. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 6.69 and a beta of 1.18. The firm’s fifty day moving average is $14.69 and its 200 day moving average is $16.28. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.90. DXC Technology Company. has a 52-week low of $12.24 and a 52-week high of $24.83.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.04. DXC Technology had a net margin of 2.96% and a return on equity of 18.59%. The business had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the business posted $0.74 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts forecast that DXC Technology Company. will post 3.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets lowered their target price on shares of DXC Technology from $26.00 to $17.00 and set a “market perform” rating on the stock in a report on Thursday, May 15th. Royal Bank Of Canada decreased their price target on shares of DXC Technology from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Friday, August 1st. Wall Street Zen raised shares of DXC Technology from a “hold” rating to a “buy” rating in a research note on Sunday, July 20th. JPMorgan Chase & Co. decreased their price target on shares of DXC Technology from $22.00 to $18.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 21st. Finally, Susquehanna decreased their price target on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.40.

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).