California Public Employees Retirement System Invests $49.42 Million in DXC Technology Company. (DXC) Stock
California Public Employees Retirement System purchased a new stake in shares of DXC Technology Company. (NYSE:DXC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 644,147 shares of the company’s stock, valued at approximately $49,419,000. California Public Employees Retirement System owned 0.46% of DXC Technology Company. as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in DXC. Vanguard Group Inc. grew its position in DXC Technology Company. by 30,928.2% during the second quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock valued at $1,593,568,000 after buying an additional 20,704,283 shares during the period. BlackRock Inc. acquired a new stake in DXC Technology Company. during the second quarter valued at $1,368,006,000. Boston Partners acquired a new stake in DXC Technology Company. during the second quarter valued at $932,573,000. Franklin Resources Inc. acquired a new stake in DXC Technology Company. during the second quarter valued at $514,971,000. Finally, Lazard Asset Management LLC acquired a new stake in DXC Technology Company. during the second quarter valued at $490,023,000. Institutional investors own 85.04% of the company’s stock.
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DXC has been the topic of several analyst reports. Morgan Stanley upgraded shares of DXC Technology Company. from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $68.00 to $85.00 in a research report on Tuesday, July 4th. Jefferies Group LLC raised their price target on shares of DXC Technology Company. from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research lowered shares of DXC Technology Company. from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BMO Capital Markets restated an “outperform” rating and set a $94.00 price target (up previously from $92.00) on shares of DXC Technology Company. in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $87.00 target price on shares of DXC Technology Company. in a research report on Friday, July 7th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.57.
Shares of DXC Technology Company. (DXC) opened at 85.51 on Friday. DXC Technology Company. has a 12 month low of $49.80 and a 12 month high of $86.29. The firm has a market cap of $24.34 billion, a price-to-earnings ratio of 269.75 and a beta of 1.03. The stock has a 50 day moving average of $83.45 and a 200 day moving average of $77.46.
DXC Technology Company. (NYSE:DXC) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.34. DXC Technology Company. had a net margin of 0.49% and a return on equity of 17.51%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. On average, equities research analysts expect that DXC Technology Company. will post $6.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.84%. DXC Technology Company.’s dividend payout ratio (DPR) is presently -378.95%.
In related news, EVP Michael G. Nefkens sold 128,328 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $80.03, for a total value of $10,270,089.84. Following the sale, the executive vice president now directly owns 25,447 shares of the company’s stock, valued at approximately $2,036,523.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Paul N. Saleh sold 80,922 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $84.01, for a total transaction of $6,798,257.22. Following the completion of the sale, the chief financial officer now directly owns 217,211 shares in the company, valued at $18,247,896.11. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 359,666 shares of company stock worth $29,091,539. Corporate insiders own 1.30% of the company’s stock.
DXC Technology Company. 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 two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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