First Trust Advisors LP trimmed its position in shares of DXC Technology Co (NYSE:DXC) by 10.6% in the third quarter, HoldingsChannel.com reports. The firm owned 940,158 shares of the company’s stock after selling 111,322 shares during the period. First Trust Advisors LP’s holdings in DXC Technology were worth $87,924,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC lifted its stake in shares of DXC Technology by 19.1% in the 3rd quarter. Aperio Group LLC now owns 196,646 shares of the company’s stock worth $18,390,000 after acquiring an additional 31,535 shares during the period. United Services Automobile Association lifted its stake in shares of DXC Technology by 17.0% in the 2nd quarter. United Services Automobile Association now owns 304,422 shares of the company’s stock worth $24,540,000 after acquiring an additional 44,195 shares during the period. Nissay Asset Management Corp Japan ADV lifted its stake in shares of DXC Technology by 2.3% in the 2nd quarter. Nissay Asset Management Corp Japan ADV now owns 39,621 shares of the company’s stock worth $3,194,000 after acquiring an additional 902 shares during the period. Neuburgh Advisers LLC lifted its stake in shares of DXC Technology by 26.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 201,564 shares of the company’s stock worth $16,248,000 after acquiring an additional 42,416 shares during the period. Finally, Weitz Investment Management Inc. lifted its stake in shares of DXC Technology by 9.0% in the 2nd quarter. Weitz Investment Management Inc. now owns 487,852 shares of the company’s stock worth $39,326,000 after acquiring an additional 40,205 shares during the period. 85.19% of the stock is owned by hedge funds and other institutional investors.
NYSE DXC opened at $73.12 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95. DXC Technology Co has a 12 month low of $69.51 and a 12 month high of $107.85. The company has a market capitalization of $21.35 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 5th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.04%. DXC Technology’s payout ratio is currently 9.57%.
In related news, CFO Paul N. Saleh sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $92.03, for a total value of $4,601,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John M. Lawrie sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $94.15, for a total transaction of $235,375.00. The disclosure for this sale can be found here. Insiders sold a total of 208,527 shares of company stock worth $18,989,941 over the last quarter. Insiders own 0.65% of the company’s stock.
A number of brokerages have recently weighed in on DXC. Wolfe Research began coverage on shares of DXC Technology in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. BMO Capital Markets reduced their price target on shares of DXC Technology from $113.00 to $110.00 and set an “outperform” rating for the company in a research note on Wednesday, August 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $103.00 price target on shares of DXC Technology in a research note on Wednesday, August 8th. Cfra reaffirmed a “buy” rating and issued a $105.00 price target on shares of DXC Technology in a research note on Thursday, August 2nd. Finally, Cantor Fitzgerald reduced their price target on shares of DXC Technology from $97.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $103.13.
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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