DXC Technology (NYSE:DXC) declared a quarterly dividend on Thursday, May 24th, RTT News reports. Investors of record on Wednesday, June 6th will be given a dividend of 0.19 per share on Tuesday, July 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.74%. This is a boost from DXC Technology’s previous quarterly dividend of $0.18.
DXC Technology has a dividend payout ratio of 9.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect DXC Technology to earn $9.07 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 7.9%.
Shares of DXC Technology traded up $2.47, reaching $102.55, during trading hours on Thursday, according to MarketBeat. 87,856 shares of the stock traded hands, compared to its average volume of 1,560,696. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.99 and a current ratio of 0.99. DXC Technology has a 52-week low of $73.51 and a 52-week high of $107.85. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.04 and a beta of 0.94.
In other news, EVP William L. Deckelman, Jr. sold 2,886 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $100.94, for a total transaction of $291,312.84. Following the sale, the executive vice president now directly owns 13,082 shares in the company, valued at approximately $1,320,497.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Lawrie sold 5,000 shares of the company’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $103.04, for a total transaction of $515,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,886 shares of company stock worth $2,343,380. Corporate insiders own 1.30% of the company’s stock.
A number of research firms recently weighed in on DXC. Deutsche Bank lifted their target price on shares of DXC Technology from $90.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, February 9th. BMO Capital Markets restated a “buy” rating on shares of DXC Technology in a research note on Friday, February 23rd. Berenberg Bank began coverage on shares of DXC Technology in a research note on Wednesday, April 18th. They set a “hold” rating and a $100.00 target price on the stock. SunTrust Banks upgraded shares of DXC Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of DXC Technology from a “hold” rating to a “buy” rating and set a $109.00 target price on the stock in a research note on Tuesday, February 13th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. DXC Technology currently has an average rating of “Buy” and an average target price of $106.06.
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 three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).
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