Public Sector Pension Investment Board Increases Position in DXC Technology Company. $DXC

Key Points

• The Public Sector Pension Investment Board increased its stake in DXC Technology by 27.3%, owning approximately 0.32% of the company valued at nearly $9.8 million after acquiring additional shares.
• DXC Technology reported $0.68 EPS for the last quarter, exceeding analysts' expectations, but the company's revenue dropped 2.4% year-over-year.
• Several analysts have revised their target prices for DXC Technology, with targets now ranging from $15.00 to $18.00, reflecting a cautious outlook on the stock.

Public Sector Pension Investment Board raised its position in shares of DXC Technology Company. (NYSE:DXC - Free Report) by 27.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 574,135 shares of the company's stock after acquiring an additional 123,123 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of DXC Technology worth $9,789,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Treasurer of the State of North Carolina boosted its position in DXC Technology by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company's stock valued at $1,571,000 after acquiring an additional 490 shares during the last quarter. Vident Advisory LLC boosted its position in DXC Technology by 2.5% during the fourth quarter. Vident Advisory LLC now owns 25,279 shares of the company's stock valued at $505,000 after acquiring an additional 624 shares during the last quarter. Covestor Ltd boosted its position in DXC Technology by 2.9% during the first quarter. Covestor Ltd now owns 35,789 shares of the company's stock valued at $610,000 after acquiring an additional 1,025 shares during the last quarter. GAMMA Investing LLC boosted its position in DXC Technology by 37.4% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock valued at $77,000 after acquiring an additional 1,226 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in DXC Technology by 0.6% during the first quarter. New York State Teachers Retirement System now owns 220,890 shares of the company's stock valued at $3,766,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors own 96.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. BMO Capital Markets decreased their target price on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research report on Thursday, May 15th. Wall Street Zen raised DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Royal Bank Of Canada decreased their target price on DXC Technology from $18.00 to $16.00 and set a "sector perform" rating for the company in a research report on Friday, August 1st. Finally, Morgan Stanley decreased their target price on DXC Technology from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $16.40.

DXC Technology Stock Up 1.3%

NYSE DXC traded up $0.19 during trading hours on Monday, hitting $13.90. The company's stock had a trading volume of 467,886 shares, compared to its average volume of 1,751,891. DXC Technology Company. has a 52 week low of $12.24 and a 52 week high of $24.83. The company has a market capitalization of $2.49 billion, a PE ratio of 6.75 and a beta of 1.18. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.90. The company's 50-day simple moving average is $14.65 and its two-hundred day simple moving average is $16.15.

DXC Technology (NYSE:DXC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.04. DXC Technology had a net margin of 2.96% and a return on equity of 18.59%. The business had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same quarter last year, the firm earned $0.74 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts anticipate that DXC Technology Company. will post 3.35 EPS for the current fiscal year.

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).