New York State Teachers Retirement System Raises Holdings in DXC Technology (NYSE:DXC)

New York State Teachers Retirement System boosted its stake in shares of DXC Technology (NYSE:DXC) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,615 shares of the company’s stock after acquiring an additional 24,291 shares during the quarter. New York State Teachers Retirement System’s holdings in DXC Technology were worth $5,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in DXC Technology by 52.2% during the 1st quarter. American Century Companies Inc. now owns 80,959 shares of the company’s stock valued at $2,641,000 after purchasing an additional 27,781 shares during the last quarter. US Bancorp DE raised its position in DXC Technology by 10.6% during the 1st quarter. US Bancorp DE now owns 20,835 shares of the company’s stock valued at $681,000 after purchasing an additional 1,993 shares during the last quarter. HighTower Advisors LLC raised its position in DXC Technology by 11.7% during the 1st quarter. HighTower Advisors LLC now owns 8,776 shares of the company’s stock valued at $284,000 after purchasing an additional 921 shares during the last quarter. Acadian Asset Management LLC raised its position in DXC Technology by 432.5% during the 1st quarter. Acadian Asset Management LLC now owns 16,497 shares of the company’s stock valued at $538,000 after purchasing an additional 13,399 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in DXC Technology by 19.3% during the 1st quarter. MetLife Investment Management LLC now owns 66,501 shares of the company’s stock valued at $2,170,000 after purchasing an additional 10,773 shares during the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Down 4.3 %

Shares of NYSE:DXC opened at $20.30 on Friday. DXC Technology has a 52-week low of $18.61 and a 52-week high of $28.89. The firm has a market capitalization of $3.71 billion, a P/E ratio of -10.63, a P/E/G ratio of 1.89 and a beta of 1.85. The stock has a 50 day moving average price of $21.15 and a 200-day moving average price of $21.95. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.10. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts anticipate that DXC Technology will post 3.03 EPS for the current fiscal year.

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total transaction of $393,356.46. Following the completion of the transaction, the executive vice president now owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.87% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. Citigroup lowered DXC Technology from a “neutral” rating to a “sell” rating and lowered their price target for the company from $24.00 to $21.00 in a research report on Wednesday, January 17th. JPMorgan Chase & Co. lowered DXC Technology from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. Finally, Guggenheim initiated coverage on DXC Technology in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 target price for the company. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, DXC Technology has an average rating of “Hold” and a consensus price target of $23.20.

DXC Technology Profile

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).