DXC Technology (NYSE:DXC) Trading Up 5.7%
DXC Technology Co (NYSE:DXC) was up 5.7% during mid-day trading on Monday . The company traded as high as $33.82 and last traded at $33.59, approximately 7,450,793 shares traded hands during trading. An increase of 178% from the average daily volume of 2,675,745 shares. The stock had previously closed at $31.79.
A number of research analysts have recently issued reports on DXC shares. KeyCorp reduced their price objective on shares of DXC Technology from $97.00 to $88.00 and set an “overweight” rating for the company in a report on Monday, May 20th. TheStreet cut shares of DXC Technology from a “b-” rating to a “c+” rating in a report on Thursday, May 23rd. BMO Capital Markets cut shares of DXC Technology from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $60.00 to $48.00 in a report on Friday, August 9th. 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. Finally, Bank of America reduced their price objective on shares of DXC Technology from $64.00 to $56.00 and set a “buy” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.17.
The firm has a market capitalization of $8.33 billion, a PE ratio of 4.14, a PEG ratio of 1.11 and a beta of 1.74. The firm’s fifty day moving average is $49.64 and its two-hundred day moving average is $58.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.88 and a quick ratio of 0.88.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Tuesday, September 3rd. DXC Technology’s dividend payout ratio (DPR) is presently 10.07%.
In other news, CEO John M. Lawrie purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were acquired at an average cost of $49.56 per share, for a total transaction of $495,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joanne Mason sold 48,679 shares of DXC Technology stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $51.99, for a total transaction of $2,530,821.21. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 22,066 shares of company stock worth $1,153,043. 0.81% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Liberty Wealth Management LLC raised its position in DXC Technology by 143.8% in the second quarter. Liberty Wealth Management LLC now owns 568 shares of the company’s stock worth $31,000 after acquiring an additional 335 shares during the period. Cornerstone Advisors Inc. raised its position in DXC Technology by 100.0% in the first quarter. Cornerstone Advisors Inc. now owns 578 shares of the company’s stock worth $37,000 after acquiring an additional 289 shares during the period. Water Island Capital LLC bought a new stake in DXC Technology in the first quarter worth about $42,000. Coastal Investment Advisors Inc. raised its position in DXC Technology by 348.4% in the second quarter. Coastal Investment Advisors Inc. now owns 704 shares of the company’s stock worth $25,000 after acquiring an additional 547 shares during the period. Finally, Covington Capital Management raised its position in DXC Technology by 346.3% in the second quarter. Covington Capital Management now owns 732 shares of the company’s stock worth $40,000 after acquiring an additional 568 shares during the period. 86.39% of the stock is currently owned by institutional investors and hedge funds.
About DXC Technology (NYSE:DXC)
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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