Signet Financial Management LLC purchased a new position in shares of DXC Technology Co (NYSE:DXC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 59,963 shares of the company’s stock, valued at approximately $3,396,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Investec Asset Management LTD boosted its position in shares of DXC Technology by 91.1% during the second quarter. Investec Asset Management LTD now owns 1,699,755 shares of the company’s stock worth $93,741,000 after buying an additional 810,375 shares during the period. Prudential Financial Inc. increased its holdings in shares of DXC Technology by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,308,632 shares of the company’s stock valued at $182,471,000 after acquiring an additional 626,625 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of DXC Technology by 72.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,487,161 shares of the company’s stock worth $95,639,000 after acquiring an additional 626,479 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of DXC Technology by 60.1% during the 2nd quarter. Wells Fargo & Company MN now owns 1,502,054 shares of the company’s stock worth $82,839,000 after acquiring an additional 563,789 shares in the last quarter. Finally, LSV Asset Management lifted its stake in DXC Technology by 20.7% during the second quarter. LSV Asset Management now owns 2,865,051 shares of the company’s stock worth $158,007,000 after purchasing an additional 491,315 shares during the last quarter. 88.47% of the stock is currently owned by institutional investors.
A number of equities analysts recently issued reports on DXC shares. Wells Fargo & Co lowered their price target on DXC Technology from $72.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, May 24th. Evercore ISI reissued a “buy” rating and set a $82.00 price objective on shares of DXC Technology in a report on Sunday, August 11th. BMO Capital Markets downgraded shares of DXC Technology from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $60.00 to $48.00 in a research report on Friday, August 9th. Royal Bank of Canada restated a “buy” rating on shares of DXC Technology in a report on Sunday, August 11th. Finally, Zacks Investment Research downgraded shares of DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 target price on the stock. in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $66.69.
DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.03. DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the firm posted $1.93 earnings per share. The company’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts predict that DXC Technology Co will post 7.3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. DXC Technology’s payout ratio is currently 10.07%.
In related news, CEO John M. Lawrie purchased 3,300 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $53.28 per share, with a total value of $175,824.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joanne Mason sold 48,679 shares of DXC Technology stock in a transaction 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. Insiders have acquired a total of 22,066 shares of company stock worth $1,153,043 over the last three months. 0.81% of the stock is currently owned by insiders.
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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