Comerica Securities Inc. purchased a new stake in DXC Technology Co (NYSE:DXC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,161 shares of the company’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in DXC. OppenheimerFunds Inc. lifted its position in DXC Technology by 203.6% in the second quarter. OppenheimerFunds Inc. now owns 2,809,907 shares of the company’s stock valued at $226,508,000 after acquiring an additional 1,884,465 shares during the last quarter. Point72 Asset Management L.P. lifted its position in DXC Technology by 1,424.2% in the second quarter. Point72 Asset Management L.P. now owns 1,687,338 shares of the company’s stock valued at $136,016,000 after acquiring an additional 1,576,638 shares during the last quarter. Natixis lifted its position in DXC Technology by 548.4% in the second quarter. Natixis now owns 1,779,865 shares of the company’s stock valued at $143,475,000 after acquiring an additional 1,505,379 shares during the last quarter. First Trust Advisors LP purchased a new stake in DXC Technology in the second quarter valued at $84,760,000. Finally, Bank of Montreal Can lifted its position in DXC Technology by 84.8% in the second quarter. Bank of Montreal Can now owns 1,874,682 shares of the company’s stock valued at $151,117,000 after acquiring an additional 860,140 shares during the last quarter. 85.40% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of DXC Technology in a report on Wednesday, October 24th. ValuEngine cut shares of DXC Technology from a “sell” rating to a “strong sell” rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of DXC Technology from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Cfra reaffirmed a “buy” rating and issued a $105.00 target price on shares of DXC Technology in a report on Thursday, August 2nd. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $70.00 target price on shares of DXC Technology in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $99.87.
In related news, EVP William L. Deckelman, Jr. sold 2,394 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $90.02, for a total transaction of $215,507.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John M. Lawrie sold 5,000 shares of the stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $93.90, for a total transaction of $469,500.00. The disclosure for this sale can be found here. Insiders have sold 181,158 shares of company stock valued at $16,526,731 over the last three months. 0.65% of the stock is currently owned by corporate insiders.
Shares of NYSE:DXC opened at $62.00 on Friday. DXC Technology Co has a one year low of $60.05 and a one year high of $107.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.04 and a quick ratio of 0.95. The stock has a market capitalization of $17.79 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.07 and a beta of 1.32.
DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.06. The firm had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.30 billion. DXC Technology had a net margin of 8.15% and a return on equity of 19.07%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. As a group, sell-side analysts predict that DXC Technology Co will post 8.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 5th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.76 annualized dividend and a yield of 1.23%. DXC Technology’s dividend payout ratio is currently 9.57%.
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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).
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