State of Tennessee Treasury Department decreased its stake in shares of DXC Technology (NYSE:DXC) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,270 shares of the company’s stock after selling 389 shares during the period. State of Tennessee Treasury Department’s holdings in DXC Technology were worth $1,415,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of DXC. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of DXC Technology by 6.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,908 shares of the company’s stock valued at $770,000 after purchasing an additional 1,811 shares during the period. Creative Planning lifted its stake in DXC Technology by 28.4% in the 4th quarter. Creative Planning now owns 17,574 shares of the company’s stock valued at $453,000 after acquiring an additional 3,890 shares in the last quarter. California Public Employees Retirement System lifted its stake in DXC Technology by 7.4% in the 4th quarter. California Public Employees Retirement System now owns 648,356 shares of the company’s stock valued at $16,695,000 after acquiring an additional 44,489 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of DXC Technology by 14.2% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,451,185 shares of the company’s stock worth $37,368,000 after acquiring an additional 180,735 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of DXC Technology by 118.4% in the fourth quarter. SG Americas Securities LLC now owns 123,574 shares of the company’s stock valued at $3,182,000 after purchasing an additional 66,997 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.
A number of research analysts recently weighed in on DXC shares. Wells Fargo & Company raised shares of DXC Technology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $26.00 to $48.00 in a research report on Wednesday, June 2nd. They noted that the move was a valuation call. Bank of America raised DXC Technology from an “underperform” rating to a “neutral” rating and set a $27.00 target price on the stock in a research report on Friday, February 19th. Deutsche Bank Aktiengesellschaft raised DXC Technology from a “hold” rating to a “buy” rating and increased their price target for the company from $28.00 to $44.00 in a research report on Tuesday, March 30th. Finally, BMO Capital Markets boosted their price target on DXC Technology from $31.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, May 21st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.44.
DXC Technology (NYSE:DXC) last released its quarterly earnings data on Tuesday, May 25th. The company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04. DXC Technology had a negative net margin of 0.84% and a positive return on equity of 11.89%. On average, equities analysts predict that DXC Technology will post 3.54 EPS for the current fiscal year.
In related news, Director Raul J. Fernandez purchased 2,517 shares of the stock in a transaction on Wednesday, June 2nd. The shares were purchased at an average cost of $39.73 per share, with a total value of $100,000.41. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.01% of the stock is currently owned by corporate insiders.
DXC Technology Profile
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.
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