Investors Buy DXC Technology Company. (DXC) on Weakness
Traders bought shares of DXC Technology Company. (NYSE:DXC) on weakness during trading on Friday. $48.90 million flowed into the stock on the tick-up and $25.68 million flowed out of the stock on the tick-down, for a money net flow of $23.22 million into the stock. Of all companies tracked, DXC Technology Company. had the 20th highest net in-flow for the day. DXC Technology Company. traded down ($0.16) for the day and closed at $84.17
A number of brokerages have weighed in on DXC. Cowen and Company reaffirmed a “hold” rating and issued a $77.00 price objective on shares of DXC Technology Company. in a report on Thursday, August 10th. TheStreet raised DXC Technology Company. from a “c” rating to a “b” rating in a research note on Tuesday, August 8th. BMO Capital Markets reissued an “outperform” rating and set a $94.00 price target (up previously from $92.00) on shares of DXC Technology Company. in a research note on Wednesday, August 9th. Cantor Fitzgerald reissued a “hold” rating and set a $79.00 price target on shares of DXC Technology Company. in a research note on Friday, August 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $86.00 price target on shares of DXC Technology Company. in a research note on Thursday, August 10th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. DXC Technology Company. currently has an average rating of “Buy” and a consensus price target of $88.23.
The stock’s 50 day moving average price is $82.28 and its 200-day moving average price is $76.58. The company has a market cap of $23.96 billion, a PE ratio of 265.52 and a beta of 1.03.
DXC Technology Company. (NYSE:DXC) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $1.59 EPS for the quarter, beating 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 analyst estimates of $5.95 billion. On average, equities research analysts forecast that DXC Technology Company. will post $6.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Friday, September 1st. DXC Technology Company.’s payout ratio is -378.95%.
In related news, EVP Michael G. Nefkens sold 128,328 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $80.03, for a total transaction of $10,270,089.84. Following the completion of the sale, the executive vice president now directly owns 25,447 shares in the company, valued at $2,036,523.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Hilton sold 5,052 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $74.82, for a total transaction of $377,990.64. Following the sale, the executive vice president now owns 2,574 shares of the company’s stock, valued at $192,586.68. The disclosure for this sale can be found here. Insiders have sold 364,718 shares of company stock valued at $29,469,529 over the last 90 days. 1.30% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings 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 worth $1,593,568,000 after buying an additional 20,704,283 shares in the last quarter. BlackRock Inc. bought a new stake in DXC Technology Company. during the second quarter worth approximately $1,368,006,000. Dodge & Cox bought a new stake in DXC Technology Company. during the second quarter worth approximately $1,032,608,000. Boston Partners bought a new stake in DXC Technology Company. during the second quarter worth approximately $932,573,000. Finally, State Street Corp bought a new stake in DXC Technology Company. during the second quarter worth approximately $898,855,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
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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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