Principal Financial Group Inc. lowered its stake in DXC Technology Co (NYSE:DXC) by 7.2% in the 1st quarter, Holdings Channel reports. The firm owned 459,139 shares of the company’s stock after selling 35,616 shares during the period. Principal Financial Group Inc.’s holdings in DXC Technology were worth $29,527,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its position in shares of DXC Technology by 10,644.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,088,667 shares of the company’s stock valued at $171,000 after buying an additional 9,004,080 shares during the last quarter. Lunia Capital LP grew its position in shares of DXC Technology by 2,128.2% during the 4th quarter. Lunia Capital LP now owns 5,973,862 shares of the company’s stock valued at $5,974,000 after buying an additional 5,705,759 shares during the last quarter. Norges Bank bought a new stake in shares of DXC Technology during the 4th quarter valued at about $147,443,000. Harris Associates L P grew its position in shares of DXC Technology by 42.8% during the 4th quarter. Harris Associates L P now owns 4,423,822 shares of the company’s stock valued at $235,215,000 after buying an additional 1,325,655 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of DXC Technology by 6.3% during the 4th quarter. BlackRock Inc. now owns 19,400,215 shares of the company’s stock valued at $1,031,510,000 after buying an additional 1,153,292 shares during the last quarter. 85.36% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on DXC shares. Goldman Sachs Group downgraded shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a research report on Monday, April 22nd. Wells Fargo & Co lowered their price objective on shares of DXC Technology from $72.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Bank of America lowered their price objective on shares of DXC Technology from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, May 31st. KeyCorp lowered their price objective on shares of DXC Technology from $97.00 to $88.00 and set an “overweight” rating for the company in a research report on Monday, May 20th. Finally, TheStreet downgraded shares of DXC Technology from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $80.92.
In other DXC Technology news, EVP Joanne Mason sold 1,768 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $52.29, for a total value of $92,448.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is currently owned by corporate insiders.
NYSE DXC opened at $51.44 on Friday. DXC Technology Co has a 52 week low of $46.46 and a 52 week high of $96.75. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $13.46 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 1.57 and a beta of 1.70.
DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, May 23rd. The company reported $2.19 EPS for the quarter, topping the consensus estimate of $2.07 by $0.12. DXC Technology had a net margin of 6.06% and a return on equity of 20.08%. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the firm earned $2.28 EPS. DXC Technology’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that DXC Technology Co will post 8.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Wednesday, June 5th will be given a $0.21 dividend. This is a boost from DXC Technology’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.63%. DXC Technology’s dividend payout ratio is 10.07%.
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About DXC Technology
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).
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