Highbridge Capital Management LLC trimmed its position in DXC Technology (NYSE:DXC) by 34.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,055 shares of the company’s stock after selling 81,282 shares during the quarter. Highbridge Capital Management LLC owned 0.05% of DXC Technology worth $13,402,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of DXC. Advisory Services Network LLC purchased a new position in shares of DXC Technology in the second quarter worth $101,000. Hanson McClain Inc. purchased a new position in shares of DXC Technology in the second quarter worth $105,000. Pinebridge Investments L.P. purchased a new position in shares of DXC Technology in the second quarter worth $106,000. Oppenheimer Asset Management Inc. purchased a new position in shares of DXC Technology in the second quarter worth $109,000. Finally, Westside Investment Management Inc. increased its stake in shares of DXC Technology by 3.4% in the second quarter. Westside Investment Management Inc. now owns 1,512 shares of the company’s stock worth $118,000 after buying an additional 50 shares during the period. 84.76% of the stock is currently owned by institutional investors.
DXC Technology (NYSE DXC) opened at $95.93 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $27,370.00 and a PE ratio of 17.50. DXC Technology has a 52-week low of $67.76 and a 52-week high of $99.44.
DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.40. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.07 billion. DXC Technology had a return on equity of 17.83% and a net margin of 1.88%. The company’s quarterly revenue was up 229.4% on a year-over-year basis. research analysts expect that DXC Technology will post 7.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 6th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Tuesday, December 5th.
Several research analysts recently commented on DXC shares. Zacks Investment Research raised shares of DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, October 10th. Jefferies Group lifted their price target on shares of DXC Technology from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 24th. KeyCorp reiterated an “overweight” rating and issued a $99.00 price target (up previously from $92.00) on shares of DXC Technology in a report on Monday, October 9th. Citigroup lifted their price target on shares of DXC Technology from $97.00 to $101.00 and gave the company a “buy” rating in a report on Friday, October 13th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $104.00 price target (up previously from $86.00) on shares of DXC Technology in a report on Wednesday, October 18th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $99.88.
In other news, EVP Michael G. Nefkens sold 35,340 shares of DXC Technology stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $92.00, for a total value of $3,251,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by insiders.
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DXC Technology Company Profile
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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