Wealth Architects LLC Buys New Position in DXC Technology Company (DXC)
Wealth Architects LLC bought a new position in shares of DXC Technology Company (NYSE:DXC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,380 shares of the company’s stock, valued at approximately $259,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in shares of DXC Technology during the second quarter worth approximately $850,000. Prudential Financial Inc. purchased a new stake in shares of DXC Technology during the second quarter worth approximately $30,415,000. Grassi Investment Management purchased a new stake in shares of DXC Technology during the second quarter worth approximately $203,000. Burney Co. purchased a new stake in shares of DXC Technology during the second quarter worth approximately $1,029,000. Finally, Spirit of America Management Corp NY purchased a new stake in shares of DXC Technology during the second quarter worth approximately $271,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
In other news, CFO Paul N. Saleh sold 80,922 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $84.01, for a total transaction of $6,798,257.22. Following the transaction, the chief financial officer now owns 217,211 shares of the company’s stock, valued at approximately $18,247,896.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul N. Saleh sold 59,824 shares of the stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $78.08, for a total value of $4,671,057.92. Following the transaction, the chief financial officer now directly owns 196,113 shares in the company, valued at approximately $15,312,503.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 364,718 shares of company stock worth $29,469,529. 1.30% of the stock is currently owned by insiders.
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Shares of DXC Technology Company (DXC) traded up 1.14% during trading on Monday, reaching $85.13. 966,341 shares of the company’s stock traded hands. The company has a 50 day moving average price of $82.35 and a 200 day moving average price of $76.66. The stock has a market capitalization of $24.24 billion, a PE ratio of 268.55 and a beta of 1.03. DXC Technology Company has a 1-year low of $45.55 and a 1-year high of $86.08.
DXC Technology (NYSE:DXC) last issued 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. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. DXC Technology had a return on equity of 17.51% and a net margin of 0.49%. On average, equities analysts forecast that DXC Technology Company will post $6.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders 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 dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, September 1st. DXC Technology’s dividend payout ratio is -378.95%.
A number of analysts recently weighed in on the stock. KeyCorp restated a “buy” rating and set a $92.00 target price on shares of DXC Technology in a research note on Friday. Jefferies Group LLC upped their target price on shares of DXC Technology from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Cantor Fitzgerald restated a “hold” rating and set a $79.00 target price on shares of DXC Technology in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of DXC Technology from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Finally, Cowen and Company restated a “hold” rating and set a $77.00 target price on shares of DXC Technology in a research note on Thursday, August 10th. Four 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 company. The stock currently has an average rating of “Buy” and a consensus price target of $88.23.
DXC Technology 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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