Principal Financial Group Inc. Sells 26,667 Shares of DXC Technology (NYSE:DXC)

Principal Financial Group Inc. trimmed its position in DXC Technology (NYSE:DXC) by 3.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 851,826 shares of the company’s stock after selling 26,667 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of DXC Technology worth $17,675,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. William B. Walkup & Associates Inc. purchased a new stake in DXC Technology during the second quarter valued at $26,000. Mather Group LLC. lifted its holdings in shares of DXC Technology by 55.0% in the 2nd quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock valued at $35,000 after acquiring an additional 581 shares during the last quarter. Fifth Third Bancorp grew its position in DXC Technology by 40.1% in the second quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock worth $37,000 after acquiring an additional 559 shares in the last quarter. Family Firm Inc. bought a new stake in DXC Technology during the second quarter worth approximately $37,000. Finally, Matrix Trust Co purchased a new stake in DXC Technology during the third quarter valued at approximately $43,000. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Stock Down 3.2 %

NYSE:DXC opened at $21.70 on Friday. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 271.19, a price-to-earnings-growth ratio of 1.46 and a beta of 1.67. DXC Technology has a twelve month low of $14.78 and a twelve month high of $25.14. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 1.18. The stock has a fifty day simple moving average of $20.81 and a 200-day simple moving average of $19.47.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.72 by $0.21. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.70 EPS. Analysts anticipate that DXC Technology will post 3.18 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $21.37, for a total transaction of $53,425.00. Following the transaction, the senior vice president now owns 83,746 shares of the company’s stock, valued at approximately $1,789,652.02. This represents a 2.90 % decrease in their position. The transaction 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.

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).