Texas Permanent School Fund Corp Reduces Position in DXC Technology (NYSE:DXC)

Texas Permanent School Fund Corp cut its holdings in shares of DXC Technology (NYSE:DXC) by 9.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,340 shares of the company’s stock after selling 15,707 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of DXC Technology worth $2,755,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of DXC Technology during the fourth quarter valued at $51,000. Principal Financial Group Inc. boosted its position in shares of DXC Technology by 323.0% during the fourth quarter. Principal Financial Group Inc. now owns 997,769 shares of the company’s stock valued at $22,819,000 after buying an additional 761,884 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of DXC Technology by 11.5% during the first quarter. BNP Paribas Financial Markets now owns 578,934 shares of the company’s stock valued at $12,279,000 after buying an additional 59,751 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of DXC Technology during the first quarter valued at $1,452,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of DXC Technology by 16.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 133,344 shares of the company’s stock valued at $2,804,000 after buying an additional 19,240 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. BMO Capital Markets increased their price objective on DXC Technology from $17.50 to $22.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. TD Cowen lowered their target price on DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. JPMorgan Chase & Co. increased their target price on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Susquehanna increased their target price on DXC Technology from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada increased their target price on DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Friday, August 9th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, DXC Technology presently has an average rating of “Hold” and an average target price of $20.30.

Insider Activity at DXC Technology

In related news, EVP Mary E. Finch sold 31,047 shares of DXC Technology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the sale, the executive vice president now owns 325,665 shares of the company’s stock, valued at approximately $6,304,874.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

DXC Technology Stock Up 2.3 %

NYSE DXC opened at $21.24 on Monday. The stock’s 50-day moving average price is $19.84 and its 200-day moving average price is $19.44. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.21. DXC Technology has a 52 week low of $14.78 and a 52 week high of $25.14. The company has a market capitalization of $3.84 billion, a P/E ratio of 57.41, a price-to-earnings-growth ratio of 1.82 and a beta of 1.67.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.57 by $0.17. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.14 billion. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. On average, equities research analysts predict that DXC Technology will post 2.89 earnings per share for the current year.

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).