Parametric Portfolio Associates LLC Sells 245,698 Shares of DXC Technology Co (NYSE:DXC)
Parametric Portfolio Associates LLC decreased its holdings in DXC Technology Co (NYSE:DXC) by 24.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 752,263 shares of the company’s stock after selling 245,698 shares during the period. Parametric Portfolio Associates LLC owned about 0.28% of DXC Technology worth $41,487,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the stock. MUFG Securities EMEA plc bought a new position in DXC Technology in the second quarter worth approximately $8,102,000. Athanor Capital LP bought a new position in DXC Technology in the second quarter worth approximately $281,000. Ossiam increased its position in shares of DXC Technology by 60.7% during the second quarter. Ossiam now owns 1,308 shares of the company’s stock worth $72,000 after purchasing an additional 494 shares in the last quarter. Pictet Asset Management Ltd. increased its position in shares of DXC Technology by 0.5% during the second quarter. Pictet Asset Management Ltd. now owns 125,859 shares of the company’s stock worth $6,941,000 after purchasing an additional 600 shares in the last quarter. Finally, Cibc World Markets Corp increased its position in shares of DXC Technology by 9.5% during the second quarter. Cibc World Markets Corp now owns 78,025 shares of the company’s stock worth $4,303,000 after purchasing an additional 6,798 shares in the last quarter. 88.47% of the stock is owned by institutional investors.
Shares of NYSE DXC traded up $0.22 during mid-day trading on Friday, hitting $32.70. The stock had a trading volume of 6,581,784 shares, compared to its average volume of 4,911,451. 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 company has a 50 day moving average of $39.67 and a two-hundred day moving average of $54.45. DXC Technology Co has a twelve month low of $30.10 and a twelve month high of $96.75. The firm has a market cap of $8.51 billion, a PE ratio of 3.92, a PEG ratio of 1.14 and a beta of 1.93.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. DXC Technology’s payout ratio is 10.07%.
In related news, EVP Joanne Mason sold 48,679 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $51.99, for a total value of $2,530,821.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John M. Lawrie bought 4,166 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased 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. Over the last three months, insiders purchased 22,066 shares of company stock worth $1,153,043. 0.81% of the stock is owned by insiders.
A number of brokerages have recently issued reports on DXC. TheStreet downgraded DXC Technology from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 price target on the stock. in a research report on Tuesday, August 13th. KeyCorp reduced their price target on DXC Technology from $97.00 to $88.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Evercore ISI reaffirmed a “buy” rating and set a $82.00 price target on shares of DXC Technology in a research report on Sunday, August 11th. Finally, Bank of America reduced their price target on DXC Technology from $64.00 to $56.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target 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).
Further Reading: Diluted Earnings Per Share
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