State of New Jersey Common Pension Fund D Sells 25,344 Shares of DXC Technology (NYSE:DXC)

State of New Jersey Common Pension Fund D lessened its holdings in DXC Technology (NYSE:DXC) by 20.6% during the third quarter, Holdings Channel reports. The fund owned 97,906 shares of the company’s stock after selling 25,344 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DXC Technology were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DXC. Fifth Third Bancorp raised its position 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 during the period. Mather Group LLC. boosted its holdings in shares of DXC Technology by 55.0% during the second quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock worth $35,000 after acquiring an additional 581 shares during the period. United Services Automobile Association grew its position in shares of 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. SummerHaven Investment Management LLC increased its stake 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 worth $507,000 after purchasing an additional 995 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in DXC Technology by 48.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,425 shares of the company’s stock worth $71,000 after purchasing an additional 1,122 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $21.37, for a total transaction of $53,425.00. Following the sale, the senior vice president now directly owns 83,746 shares in the company, valued at approximately $1,789,652.02. The trade was a 2.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

DXC Technology Price Performance

DXC Technology stock opened at $20.81 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.21 and a current ratio of 1.25. DXC Technology has a 52 week low of $14.78 and a 52 week high of $25.14. The stock has a market capitalization of $3.77 billion, a P/E ratio of 260.16, a price-to-earnings-growth ratio of 1.45 and a beta of 1.67. The stock has a fifty day moving average of $20.81 and a 200-day moving average of $19.47.

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

Analyst Ratings Changes

Several research firms have weighed in on DXC. JPMorgan Chase & Co. increased their price objective on DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research report on Friday, September 6th. BMO Capital Markets increased their target price on shares of DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price target on DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research note on Friday, August 9th. Finally, Susquehanna raised their price objective on DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.89.

About DXC Technology

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).