Principal Financial Group Inc. Lowers Stock Position in DXC Technology (NYSE:DXC)

Principal Financial Group Inc. cut its holdings in shares of DXC Technology (NYSE:DXC) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 851,826 shares of the company’s stock after selling 26,667 shares during the period. Principal Financial Group Inc.’s holdings in DXC Technology were worth $17,675,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Fifth Third Bancorp boosted its position in DXC Technology by 40.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after acquiring an additional 559 shares in the last quarter. Mather Group LLC. boosted its position in DXC Technology by 55.0% during the second quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock valued at $35,000 after purchasing an additional 581 shares in the last quarter. United Services Automobile Association grew its stake in DXC Technology by 5.0% in the second quarter. United Services Automobile Association now owns 14,333 shares of the company’s stock valued at $274,000 after purchasing an additional 679 shares during the last quarter. Covestor Ltd raised its holdings in DXC Technology by 2.5% in the first quarter. Covestor Ltd now owns 33,110 shares of the company’s stock worth $702,000 after purchasing an additional 820 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its position in shares of DXC Technology by 3.9% during the second quarter. SummerHaven Investment Management LLC now owns 26,573 shares of the company’s stock valued at $507,000 after buying an additional 995 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Trading Down 3.2 %

NYSE DXC opened at $21.70 on Friday. The stock has a market cap of $3.93 billion, a P/E ratio of 271.19, a P/E/G ratio of 1.46 and a beta of 1.67. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.18. DXC Technology has a 12-month low of $14.78 and a 12-month high of $25.14. The company has a fifty day simple moving average of $20.81 and a two-hundred day simple moving average of $19.47.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.21. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same quarter last year, the business posted $0.70 EPS. On average, analysts forecast that DXC Technology will post 3.18 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the transaction, the senior vice president now owns 83,746 shares in the company, valued at approximately $1,789,652.02. This represents a 2.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of DXC Technology from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Finally, BMO Capital Markets raised their price objective on DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, DXC Technology currently has a consensus rating of “Hold” and a consensus target price of $20.89.

DXC Technology Profile

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).