Mirae Asset Global Investments Co. Ltd. Has $2.12 Million Stake in DXC Technology (NYSE:DXC)

Mirae Asset Global Investments Co. Ltd. decreased its position in DXC Technology (NYSE:DXC) by 9.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,543 shares of the company’s stock after selling 9,423 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in DXC Technology were worth $2,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Teachers Retirement System lifted its holdings in DXC Technology by 10.4% in the fourth quarter. New York State Teachers Retirement System now owns 257,615 shares of the company’s stock valued at $5,892,000 after buying an additional 24,291 shares during the period. Advisors Preferred LLC bought a new stake in DXC Technology in the fourth quarter valued at $1,503,000. Oak Thistle LLC bought a new stake in DXC Technology in the fourth quarter valued at $701,000. State of Alaska Department of Revenue increased its stake in DXC Technology by 388.6% in the fourth quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock valued at $2,724,000 after purchasing an additional 94,748 shares in the last quarter. Finally, Schechter Investment Advisors LLC increased its stake in DXC Technology by 16.8% in the fourth quarter. Schechter Investment Advisors LLC now owns 11,876 shares of the company’s stock valued at $272,000 after purchasing an additional 1,704 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Trading Up 2.9 %

NYSE:DXC opened at $20.14 on Friday. DXC Technology has a one year low of $18.61 and a one year high of $28.89. The company has a market cap of $3.68 billion, a PE ratio of -10.54, a PEG ratio of 1.77 and a beta of 1.85. The firm has a 50-day moving average of $20.98 and a 200-day moving average of $21.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect that DXC Technology will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DXC. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research note on Friday, February 2nd. JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $27.00 to $24.00 in a research note on Wednesday, January 24th. Guggenheim began coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price for the company. Finally, Citigroup downgraded shares of DXC Technology from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $24.00 to $21.00 in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Hold” and a consensus target price of $23.20.

Insider Buying and Selling

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

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).