National Pension Service Boosts Stake in DXC Technology Co (NYSE:DXC)
National Pension Service increased its holdings in shares of DXC Technology Co (NYSE:DXC) by 5.2% during the third quarter, HoldingsChannel reports. The fund owned 376,706 shares of the company’s stock after buying an additional 18,704 shares during the period. National Pension Service’s holdings in DXC Technology were worth $11,113,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the business. AGF Investments LLC lifted its stake in shares of DXC Technology by 0.8% in the second quarter. AGF Investments LLC now owns 22,639 shares of the company’s stock valued at $1,249,000 after purchasing an additional 189 shares during the period. Keel Point LLC increased its holdings in DXC Technology by 5.5% in the second quarter. Keel Point LLC now owns 3,912 shares of the company’s stock valued at $216,000 after buying an additional 205 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in DXC Technology by 0.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 27,177 shares of the company’s stock valued at $1,492,000 after buying an additional 255 shares in the last quarter. Bartlett & Co. LLC increased its holdings in DXC Technology by 13.6% in the second quarter. Bartlett & Co. LLC now owns 2,459 shares of the company’s stock valued at $136,000 after buying an additional 294 shares in the last quarter. Finally, Wellington Shields & Co. LLC lifted its position in shares of DXC Technology by 4.6% during the 2nd quarter. Wellington Shields & Co. LLC now owns 6,869 shares of the company’s stock valued at $379,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 89.10% of the company’s stock.
Several brokerages have recently commented on DXC. BMO Capital Markets reissued a “market perform” rating and set a $35.00 price target on shares of DXC Technology in a research note on Tuesday, November 12th. ValuEngine raised shares of DXC Technology from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Citigroup lowered their price target on shares of DXC Technology from $60.00 to $47.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of DXC Technology from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Finally, Cowen cut their price objective on DXC Technology from $83.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $49.57.
DXC Technology (NYSE:DXC) last issued its earnings results on Monday, November 11th. The company reported $1.38 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.06). The firm had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.92 billion. DXC Technology had a positive return on equity of 18.89% and a negative net margin of 6.04%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $2.02 earnings per share. Equities research analysts expect that DXC Technology Co will post 5.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, December 3rd. DXC Technology’s dividend payout ratio (DPR) is presently 10.07%.
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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