Cramer Rosenthal Mcglynn LLC reduced its position in shares of DXC Technology Co (NYSE:DXC) by 4.8% in the second quarter, HoldingsChannel reports. The firm owned 477,664 shares of the company’s stock after selling 24,176 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in DXC Technology were worth $26,343,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Investec Asset Management LTD raised its stake in DXC Technology by 91.1% during the 2nd quarter. Investec Asset Management LTD now owns 1,699,755 shares of the company’s stock valued at $93,741,000 after acquiring an additional 810,375 shares during the last quarter. Prudential Financial Inc. lifted its position in DXC Technology by 23.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,308,632 shares of the company’s stock worth $182,471,000 after acquiring an additional 626,625 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in 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 during the last quarter. Wells Fargo & Company MN lifted its position in 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 during the last quarter. Finally, LSV Asset Management raised its position in shares of DXC Technology by 20.7% during the second quarter. LSV Asset Management now owns 2,865,051 shares of the company’s stock valued at $158,007,000 after buying an additional 491,315 shares during the last quarter. Institutional investors and hedge funds own 88.47% of the company’s stock.
In other news, EVP Joanne Mason sold 48,679 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John M. Lawrie purchased 4,166 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $56.26 per share, for a total transaction of $234,379.16. The disclosure for this purchase can be found here. Insiders have bought 22,066 shares of company stock worth $1,153,043 over the last three months. 0.81% of the stock is owned by insiders.
DXC Technology stock traded up $1.05 during trading hours on Friday, hitting $33.53. 49,455 shares of the stock were exchanged, compared to its average volume of 4,140,236. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $9.44 billion, a P/E 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 business’s 50-day moving average is $40.14 and its two-hundred day moving average is $54.61.
DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the prior year, the firm earned $1.93 earnings per share. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, equities analysts predict 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 annualized dividend and a dividend yield of 2.51%. DXC Technology’s dividend payout ratio (DPR) is currently 10.07%.
A number of research analysts have recently commented on the stock. KeyCorp cut their price objective on shares of DXC Technology from $97.00 to $88.00 and set an “overweight” rating for the company in a research report on Monday, May 20th. Cowen cut their price objective on shares of DXC Technology from $83.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. 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. TheStreet lowered shares of DXC Technology from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research lowered shares of DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. DXC Technology has an average rating of “Hold” and an average target price of $66.69.
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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