Assenagon Asset Management S.A. Acquires New Holdings in DXC Technology Company. (DXC)
Assenagon Asset Management S.A. acquired a new position in DXC Technology Company. (NYSE:DXC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,038,607 shares of the company’s stock, valued at approximately $89,196,000. DXC Technology Company. comprises 0.8% of Assenagon Asset Management S.A.’s portfolio, making the stock its 17th biggest holding. Assenagon Asset Management S.A. owned 0.36% of DXC Technology Company. at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Neuberger Berman Group LLC purchased a new stake in DXC Technology Company. during the 1st quarter worth approximately $233,000. Goldman Sachs Group Inc. purchased a new stake in DXC Technology Company. during the 1st quarter worth approximately $115,847,000. Cacti Asset Management LLC purchased a new stake in DXC Technology Company. during the 2nd quarter worth approximately $209,000. Grassi Investment Management purchased a new stake in DXC Technology Company. during the 2nd quarter worth approximately $203,000. Finally, DnB Asset Management AS purchased a new stake in DXC Technology Company. during the 2nd quarter worth approximately $5,506,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.
Shares of DXC Technology Company. (DXC) traded up 0.94% during midday trading on Friday, hitting $91.89. 1,549,360 shares of the company’s stock were exchanged. The stock has a market cap of $26.16 billion, a PE ratio of 289.87 and a beta of 1.04. DXC Technology Company. has a 1-year low of $51.68 and a 1-year high of $93.40. The stock’s 50 day moving average is $86.61 and its 200-day moving average is $80.47.
DXC Technology Company. (NYSE:DXC) last posted its earnings results on Tuesday, August 8th. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.95 billion. Analysts predict that DXC Technology Company. will post $6.83 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 6th were given a dividend of $0.18 per share. The ex-dividend date was Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.78%. DXC Technology Company.’s payout ratio is currently -378.95%.
DXC has been the topic of several recent research reports. Morgan Stanley raised shares of DXC Technology Company. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $68.00 to $85.00 in a research note on Tuesday, July 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $87.00 target price on shares of DXC Technology Company. in a research note on Friday, July 7th. KeyCorp raised shares of DXC Technology Company. from a “sector weight” rating to an “overweight” rating and set a $93.00 target price on the stock in a research note on Friday, July 21st. Zacks Investment Research downgraded shares of DXC Technology Company. from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $94.00 target price (up from $92.00) on shares of DXC Technology Company. in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $96.38.
In other news, EVP Michael G. Nefkens sold 35,340 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $92.00, for a total transaction of $3,251,280.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Paul N. Saleh sold 80,922 shares of the business’s stock in a transaction on 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 directly owns 217,211 shares in the company, valued at $18,247,896.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 285,050 shares of company stock worth $23,659,195. Corporate insiders own 1.30% of the company’s stock.
About DXC Technology Company.
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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