Corient Capital Partners LLC acquired a new stake in shares of DXC Technology Co (NYSE:DXC) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,832 shares of the company’s stock, valued at approximately $1,315,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DXC. Coastal Investment Advisors Inc. boosted its holdings in DXC Technology by 348.4% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 704 shares of the company’s stock worth $25,000 after buying an additional 547 shares during the period. Liberty Wealth Management LLC raised its position in DXC Technology by 143.8% in the 2nd quarter. Liberty Wealth Management LLC now owns 568 shares of the company’s stock worth $31,000 after purchasing an additional 335 shares during the period. Cornerstone Advisors Inc. raised its position in DXC Technology by 100.0% in the 1st quarter. Cornerstone Advisors Inc. now owns 578 shares of the company’s stock worth $37,000 after purchasing an additional 289 shares during the period. Water Island Capital LLC purchased a new stake in DXC Technology in the 1st quarter worth about $42,000. Finally, CWM LLC raised its position in DXC Technology by 66.6% in the 2nd quarter. CWM LLC now owns 813 shares of the company’s stock worth $45,000 after purchasing an additional 325 shares during the period. Institutional investors own 88.47% of the company’s stock.
DXC has been the topic of a number of recent research reports. Evercore ISI reiterated a “buy” rating and set a $82.00 price objective on shares of DXC Technology in a research note on Sunday, August 11th. Wells Fargo & Co cut their price objective on shares of DXC Technology from $72.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Royal Bank of Canada restated a “buy” rating on shares of DXC Technology in a report on Sunday, August 11th. BMO Capital Markets cut shares of DXC Technology from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $60.00 to $48.00 in a research note on Friday, August 9th. Finally, TheStreet cut shares of DXC Technology from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $66.69.
In other news, CEO John M. Lawrie bought 10,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of $49.56 per share, for a total transaction of $495,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joanne Mason sold 48,679 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $51.99, for a total transaction of $2,530,821.21. The disclosure for this sale can be found here. Over the last three months, insiders bought 22,066 shares of company stock worth $1,153,043. Insiders own 0.81% of the company’s stock.
DXC Technology stock traded up $1.05 during mid-day trading on Friday, hitting $33.53. The stock had a trading volume of 49,455 shares, compared to its average volume of 4,140,236. The stock has a 50-day simple moving average of $40.14 and a two-hundred day simple moving average of $54.61. The stock has a market capitalization of $9.44 billion, a PE ratio of 4.00, a P/E/G ratio of 1.26 and a beta of 1.93. DXC Technology Co has a 12 month low of $30.10 and a 12 month high of $96.75. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80.
DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.86 billion. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. DXC Technology’s revenue was down 7.4% on a year-over-year basis. During the same period last year, the business posted $1.93 earnings per share. Sell-side analysts expect that DXC Technology Co will post 7.3 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.51%. DXC Technology’s dividend payout ratio is currently 10.07%.
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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