State of New Jersey Common Pension Fund D Lowers Stock Holdings in DXC Technology (NYSE:DXC)

State of New Jersey Common Pension Fund D reduced its stake in DXC Technology (NYSE:DXC - Free Report) by 20.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,906 shares of the company's stock after selling 25,344 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of DXC Technology worth $2,032,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of DXC. Robeco Institutional Asset Management B.V. lifted its holdings in DXC Technology by 31.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 350,760 shares of the company's stock worth $7,278,000 after purchasing an additional 84,524 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of DXC Technology by 2.9% during the third quarter. New York State Teachers Retirement System now owns 213,791 shares of the company's stock worth $4,436,000 after acquiring an additional 5,976 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of DXC Technology by 24.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,519 shares of the company's stock valued at $322,000 after acquiring an additional 3,024 shares in the last quarter. Highland Capital Management LLC purchased a new stake in DXC Technology during the third quarter worth $231,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of DXC Technology during the third quarter valued at about $79,000. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Stock Down 4.0 %

DXC traded down $0.87 on Friday, reaching $20.81. The company's stock had a trading volume of 844,706 shares, compared to its average volume of 1,337,358. The stock has a 50 day moving average of $20.81 and a two-hundred day moving average of $19.48. DXC Technology has a fifty-two week low of $14.78 and a fifty-two week high of $25.14. The company has a quick ratio of 1.21, a current ratio of 1.25 and a debt-to-equity ratio of 1.18. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 260.16, a P/E/G ratio of 1.35 and a beta of 1.67.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.72 by $0.21. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. As a group, analysts forecast that DXC Technology will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling at DXC Technology

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Susquehanna boosted their target price on shares of DXC Technology from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Royal Bank of Canada increased their target price on shares of DXC Technology from $18.00 to $20.00 and gave the company a "sector perform" rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of DXC Technology from $19.00 to $22.00 and gave the company an "underweight" rating in a report on Friday, September 6th. Finally, BMO Capital Markets lifted their target price on shares of DXC Technology from $22.00 to $25.00 and gave the company a "market perform" rating in a report on Monday, November 11th. Two equities research 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.89.

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).