Maryland State Retirement & Pension System Buys 70,378 Shares of DXC Technology (NYSE:DXC)

Maryland State Retirement & Pension System lifted its holdings in shares of DXC Technology (NYSE:DXC) by 406.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 87,712 shares of the company’s stock after purchasing an additional 70,378 shares during the period. Maryland State Retirement & Pension System’s holdings in DXC Technology were worth $2,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DXC. Versant Capital Management Inc raised its position in shares of DXC Technology by 3,525.9% during the fourth quarter. Versant Capital Management Inc now owns 2,103 shares of the company’s stock worth $48,000 after acquiring an additional 2,045 shares during the last quarter. GAMMA Investing LLC bought a new stake in DXC Technology during the 4th quarter worth about $49,000. Headlands Technologies LLC acquired a new position in DXC Technology during the 3rd quarter valued at about $67,000. NBC Securities Inc. bought a new position in shares of DXC Technology in the 3rd quarter valued at about $94,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of DXC Technology during the 3rd quarter worth approximately $197,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Stock Up 0.3 %

Shares of NYSE DXC traded up $0.05 during trading hours on Wednesday, hitting $19.75. The company had a trading volume of 88,781 shares, compared to its average volume of 2,325,276. The stock has a market capitalization of $3.61 billion, a P/E ratio of -10.32, a price-to-earnings-growth ratio of 1.72 and a beta of 1.85. DXC Technology has a 1-year low of $18.61 and a 1-year high of $28.89. The firm’s 50 day moving average is $20.60 and its 200-day moving average is $21.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15.

Insider Activity at DXC Technology

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the sale, the executive vice president now owns 124,806 shares in the company, valued at $2,712,034.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DXC. Citigroup downgraded DXC Technology from a “neutral” rating to a “sell” rating and cut their price target for the company from $24.00 to $21.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research report on Friday, February 2nd. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Guggenheim initiated coverage on shares of DXC Technology in a report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 target price on the stock. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, DXC Technology presently has an average rating of “Hold” and a consensus price target of $23.20.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).