Norges Bank Invests $17.40 Million in DXC Technology (NYSE:DXC)

Norges Bank acquired a new stake in shares of DXC Technology (NYSE:DXC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 870,824 shares of the company's stock, valued at approximately $17,399,000. Norges Bank owned approximately 0.48% of DXC Technology as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System raised its position in DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company's stock valued at $1,048,000 after purchasing an additional 566 shares in the last quarter. Highland Capital Management LLC increased its position in shares of DXC Technology by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 11,850 shares of the company's stock valued at $237,000 after purchasing an additional 731 shares during the last quarter. Corient Private Wealth LLC raised its holdings in shares of DXC Technology by 2.3% during the 4th quarter. Corient Private Wealth LLC now owns 32,796 shares of the company's stock valued at $655,000 after buying an additional 740 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its position in DXC Technology by 116.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock worth $33,000 after buying an additional 900 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in DXC Technology by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 17,976 shares of the company's stock worth $359,000 after buying an additional 950 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

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DXC Technology Trading Up 1.3 %

DXC Technology stock traded up $0.18 during trading hours on Friday, reaching $14.43. The company had a trading volume of 1,541,642 shares, compared to its average volume of 1,764,222. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83. The company has a 50-day moving average price of $17.93 and a 200 day moving average price of $19.93. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of -34.36, a P/E/G ratio of 1.16 and a beta of 1.37.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.23. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. Equities analysts forecast that DXC Technology will post 3.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lifted their price target on shares of DXC Technology from $20.00 to $22.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $21.29.

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).