Quantitative Systematic Strategies LLC purchased a new stake in DXC Technology Co (NYSE:DXC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 32,921 shares of the company’s stock, valued at approximately $1,816,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cribstone Capital Management LLC grew its holdings in shares of DXC Technology by 187.1% during the first quarter. Cribstone Capital Management LLC now owns 491 shares of the company’s stock valued at $32,000 after buying an additional 320 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of DXC Technology during the first quarter valued at about $37,000. Cornerstone Advisors Inc. grew its holdings in shares of DXC Technology by 100.0% during the first quarter. Cornerstone Advisors Inc. now owns 578 shares of the company’s stock valued at $37,000 after buying an additional 289 shares during the last quarter. Water Island Capital LLC acquired a new position in shares of DXC Technology during the first quarter valued at about $42,000. Finally, Private Capital Group LLC grew its holdings in shares of DXC Technology by 144.3% during the first quarter. Private Capital Group LLC now owns 1,031 shares of the company’s stock valued at $66,000 after buying an additional 609 shares during the last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Bank of America reduced their price objective on shares of DXC Technology from $75.00 to $64.00 and set a “buy” rating for the company in a report on Friday, May 31st. Wells Fargo & Co reduced 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 report on Friday, May 24th. BMO Capital Markets reduced their price objective on shares of DXC Technology from $88.00 to $70.00 and set an “outperform” rating for the company in a report on Tuesday, May 21st. Zacks Investment Research cut shares of DXC Technology from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, TheStreet cut shares of DXC Technology from a “b-” rating to a “c+” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $78.92.
DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, May 23rd. The company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.12. DXC Technology had a net margin of 6.06% and a return on equity of 20.09%. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the company earned $2.28 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts predict that DXC Technology Co will post 8.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This is a boost from DXC Technology’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 1.70%. DXC Technology’s payout ratio is 10.07%.
In other DXC Technology news, EVP Joanne Mason sold 48,679 shares of DXC Technology stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $51.99, for a total value of $2,530,821.21. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John M. Lawrie acquired 4,500 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $53.72 per share, for a total transaction of $241,740.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 12,066 shares of company stock worth $657,443. 0.81% of the stock is owned by corporate insiders.
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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