Putnam Investments LLC Grows Position in DXC Technology Co (NYSE:DXC)

Putnam Investments LLC lifted its holdings in shares of DXC Technology Co (NYSE:DXC) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,041,939 shares of the company’s stock after buying an additional 56,096 shares during the period. Putnam Investments LLC owned approximately 1.52% of DXC Technology worth $222,913,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of DXC Technology by 23.2% during the second quarter. Vanguard Group Inc. now owns 25,403,686 shares of the company’s stock valued at $1,401,012,000 after buying an additional 4,785,824 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of DXC Technology by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,452,857 shares of the company’s stock valued at $236,418,000 after buying an additional 451,768 shares during the last quarter. Invesco Ltd. boosted its position in shares of DXC Technology by 133.7% during the second quarter. Invesco Ltd. now owns 4,199,338 shares of the company’s stock valued at $231,593,000 after buying an additional 2,402,773 shares during the last quarter. FMR LLC boosted its position in shares of DXC Technology by 6.8% during the first quarter. FMR LLC now owns 3,849,597 shares of the company’s stock valued at $247,567,000 after buying an additional 245,363 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of DXC Technology by 23.4% during the second quarter. Prudential Financial Inc. now owns 3,308,632 shares of the company’s stock valued at $182,471,000 after buying an additional 626,625 shares during the last quarter. 86.84% of the stock is currently owned by institutional investors.

DXC stock traded down $1.05 during trading on Tuesday, reaching $32.20. The stock had a trading volume of 134,763 shares, compared to its average volume of 4,980,287. DXC Technology Co has a 52 week low of $30.10 and a 52 week high of $96.75. The stock’s 50 day moving average is $38.25 and its two-hundred day moving average is $53.94. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The firm has a market cap of $8.57 billion, a PE ratio of 3.87, a PEG ratio of 1.14 and a beta of 1.94.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, August 8th. The company reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.03. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. DXC Technology’s revenue was down 7.4% on a year-over-year basis. On average, research analysts anticipate that DXC Technology Co will post 7.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Tuesday, September 3rd. DXC Technology’s dividend payout ratio (DPR) is currently 10.07%.

In related news, insider John M. Lawrie acquired 4,500 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $53.72 per share, with a total value of $241,740.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 22,066 shares of company stock worth $1,153,043 in the last ninety days. Corporate insiders own 0.81% of the company’s stock.

Several equities research analysts recently commented on the company. Zacks Investment Research cut DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research report on Tuesday, August 13th. Cfra reaffirmed a “hold” rating on shares of DXC Technology in a research report on Thursday, September 12th. Evercore ISI reissued a “hold” rating on shares of DXC Technology in a report on Monday. Wells Fargo & Co lowered their target price on DXC Technology from $72.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. Finally, Royal Bank of Canada reissued a “buy” rating on shares of DXC Technology in a report on Sunday, August 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. DXC Technology has an average rating of “Hold” and a consensus price target of $66.69.

DXC Technology 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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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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