Moors & Cabot Inc. boosted its holdings in DXC Technology (NYSE:DXC) by 33.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,920 shares of the company’s stock after purchasing an additional 1,500 shares during the period. Moors & Cabot Inc.’s holdings in DXC Technology were worth $508,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of DXC. Advisory Services Network LLC purchased a new position in DXC Technology in the second quarter valued at about $101,000. Hanson McClain Inc. purchased a new position in DXC Technology in the second quarter valued at about $105,000. Pinebridge Investments L.P. purchased a new position in DXC Technology in the second quarter valued at about $106,000. Oppenheimer Asset Management Inc. purchased a new position in DXC Technology in the second quarter valued at about $109,000. Finally, Westside Investment Management Inc. boosted its holdings in DXC Technology by 3.4% in the second quarter. Westside Investment Management Inc. now owns 1,512 shares of the company’s stock valued at $118,000 after purchasing an additional 50 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
DXC Technology (DXC) opened at $95.25 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. DXC Technology has a 1-year low of $64.06 and a 1-year high of $99.44. The company has a market capitalization of $26,872.31, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.04.
DXC Technology (NYSE:DXC) last released its earnings results on Tuesday, November 7th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.40. DXC Technology had a return on equity of 17.83% and a net margin of 1.88%. The company had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.07 billion. The company’s quarterly revenue was up 229.4% on a year-over-year basis. sell-side 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 dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Tuesday, December 5th. DXC Technology’s payout ratio is 122.03%.
A number of brokerages recently commented on DXC. BMO Capital Markets increased their price target on DXC Technology from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Zacks Investment Research raised DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, October 10th. SunTrust Banks increased their price target on DXC Technology to $100.00 and gave the company a “hold” rating in a report on Monday, November 13th. Bank of America started coverage on DXC Technology in a report on Tuesday, September 12th. They issued a “buy” rating and a $101.00 price target for the company. Finally, Evercore ISI started coverage on DXC Technology in a report on Tuesday, October 17th. They set an “outperform” rating and a $115.00 target price on the stock. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. DXC Technology currently has an average rating of “Buy” and an average price target of $99.88.
In other news, EVP Michael G. Nefkens sold 35,340 shares of the stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $92.00, for a total transaction of $3,251,280.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.
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DXC Technology 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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