Principal Financial Group Inc. grew its stake in DXC Technology (NYSE:DXC – Free Report) by 323.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 997,769 shares of the company’s stock after purchasing an additional 761,884 shares during the quarter. Principal Financial Group Inc.’s holdings in DXC Technology were worth $22,819,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Versant Capital Management Inc raised its position in DXC Technology by 3,525.9% in the 4th quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock valued at $48,000 after buying an additional 2,045 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of DXC Technology during the fourth quarter valued at about $49,000. Headlands Technologies LLC purchased a new position in DXC Technology during the third quarter worth about $67,000. NBC Securities Inc. bought a new stake in DXC Technology in the 3rd quarter worth about $94,000. Finally, V Square Quantitative Management LLC purchased a new stake in DXC Technology in the 3rd quarter valued at about $197,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.
DXC Technology Stock Performance
NYSE DXC opened at $16.20 on Tuesday. The firm has a market cap of $2.96 billion, a P/E ratio of 43.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.85. The company has a quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 1.25. The company’s 50 day moving average is $20.23 and its 200-day moving average is $21.73. DXC Technology has a 12-month low of $15.70 and a 12-month high of $28.89.
DXC Technology (NYSE:DXC – Get Free Report) last released its quarterly earnings data on Thursday, May 16th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.14. The business had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.37 billion. DXC Technology had a net margin of 0.67% and a return on equity of 18.43%. DXC Technology’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.02 EPS. Sell-side analysts predict that DXC Technology will post 3.5 earnings per share for the current year.
Insider Activity at DXC Technology
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the completion of the transaction, the executive vice president now owns 124,806 shares in the company, valued at approximately $2,712,034.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.87% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded DXC Technology from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $27.00 to $24.00 in a research note on Wednesday, January 24th. Stifel Nicolaus decreased their target price on DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a research report on Friday. Susquehanna cut their price target on shares of DXC Technology from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday. BMO Capital Markets decreased their price objective on shares of DXC Technology from $23.00 to $17.50 and set a “market perform” rating for the company in a report on Friday. Finally, Royal Bank of Canada dropped their target price on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Friday. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, DXC Technology currently has an average rating of “Hold” and a consensus price target of $20.41.
Read Our Latest Research Report on DXC
About DXC Technology
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).
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