DXC Technology (NYSE:DXC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its position in shares of DXC Technology (NYSE:DXC) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 878,493 shares of the company’s stock after selling 66,529 shares during the quarter. Principal Financial Group Inc. owned 0.49% of DXC Technology worth $16,770,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of DXC. Mather Group LLC. raised its stake in shares of DXC Technology by 55.0% during the 2nd quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock worth $35,000 after buying an additional 581 shares during the last quarter. Family Firm Inc. acquired a new position in DXC Technology during the second quarter worth about $37,000. Fifth Third Bancorp lifted its holdings in shares of DXC Technology by 40.1% in the second quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after purchasing an additional 559 shares in the last quarter. Quarry LP acquired a new stake in shares of DXC Technology in the fourth quarter valued at approximately $51,000. Finally, Innealta Capital LLC purchased a new position in shares of DXC Technology during the 2nd quarter worth approximately $96,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Performance

Shares of DXC stock opened at $20.87 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.21 and a current ratio of 1.21. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 56.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.73. DXC Technology has a one year low of $14.78 and a one year high of $25.14. The company has a 50 day moving average price of $19.51 and a 200 day moving average price of $19.47.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17. DXC Technology had a return on equity of 19.20% and a net margin of 0.60%. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.14 billion. Sell-side analysts anticipate that DXC Technology will post 2.89 EPS for the current year.

Insider Transactions at DXC Technology

In other news, EVP Mary E. Finch sold 31,047 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $19.36, for a total transaction of $601,069.92. Following the completion of the sale, the executive vice president now owns 325,665 shares in the company, valued at approximately $6,304,874.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on DXC shares. 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. Morgan Stanley dropped their price objective on DXC Technology from $21.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, May 17th. Susquehanna upped their target price on shares of DXC Technology from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, June 12th. Stifel Nicolaus lowered their price target on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 17th. Finally, Royal Bank of Canada upped their price objective on shares of DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.50.

DXC Technology Company 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).