Abner Herrman & Brock LLC raised its stake in DXC Technology Co (NYSE:DXC) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,657 shares of the company’s stock after acquiring an additional 1,156 shares during the period. Abner Herrman & Brock LLC’s holdings in DXC Technology were worth $1,371,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of DXC. Boston Partners grew its position in DXC Technology by 0.5% during the 2nd quarter. Boston Partners now owns 12,125,367 shares of the company’s stock worth $977,426,000 after purchasing an additional 59,176 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in DXC Technology by 5.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,123,113 shares of the company’s stock worth $977,245,000 after purchasing an additional 678,472 shares in the last quarter. FMR LLC grew its position in DXC Technology by 7.1% during the 2nd quarter. FMR LLC now owns 4,819,523 shares of the company’s stock worth $388,502,000 after purchasing an additional 319,168 shares in the last quarter. Investec Asset Management LTD grew its position in DXC Technology by 12.9% during the 2nd quarter. Investec Asset Management LTD now owns 3,147,311 shares of the company’s stock worth $253,705,000 after purchasing an additional 358,785 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its position in DXC Technology by 203.6% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,809,907 shares of the company’s stock worth $226,508,000 after purchasing an additional 1,884,465 shares in the last quarter. 84.87% of the stock is currently owned by institutional investors.
Several equities analysts have weighed in on DXC shares. ValuEngine cut shares of DXC Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, June 26th. Wolfe Research started coverage on shares of DXC Technology in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Zacks Investment Research upgraded shares of DXC Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, July 23rd. Cfra reiterated a “buy” rating and set a $105.00 price objective on shares of DXC Technology in a research report on Thursday, August 2nd. Finally, KeyCorp lifted their price objective on shares of DXC Technology from $109.00 to $111.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. DXC Technology currently has an average rating of “Buy” and a consensus price target of $103.13.
In related news, insider John M. Lawrie sold 5,000 shares of the company’s stock in a transaction on Friday, September 28th. The shares were sold at an average price of $93.90, for a total value of $469,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joanne Mason sold 1,726 shares of the company’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $87.74, for a total transaction of $151,439.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 210,253 shares of company stock worth $19,141,381. 0.65% of the stock is currently owned by corporate insiders.
Shares of DXC Technology stock traded up $0.14 on Friday, hitting $88.55. 54,472 shares of the company traded hands, compared to its average volume of 1,567,527. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40. DXC Technology Co has a 12-month low of $77.96 and a 12-month high of $107.85. The stock has a market cap of $25.16 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.52 and a beta of 0.96.
DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.75 by $0.18. DXC Technology had a net margin of 7.74% and a return on equity of 18.67%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.32 billion. On average, equities research analysts expect that DXC Technology Co will post 8.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 5th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, December 4th. DXC Technology’s dividend payout ratio is currently 9.57%.
About DXC Technology
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).
Read More: Outstanding Shares and The Effect on Share Price
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