Jana Partners LLC Raises Holdings in DXC Technology (DXC)
Jana Partners LLC raised its position in shares of DXC Technology (NYSE:DXC) by 45.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,085,092 shares of the company’s stock after purchasing an additional 647,853 shares during the quarter. DXC Technology comprises 3.7% of Jana Partners LLC’s portfolio, making the stock its 11th largest holding. Jana Partners LLC owned about 0.73% of DXC Technology worth $179,068,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Prudential Financial Inc. bought a new stake in shares of DXC Technology during the 2nd quarter worth $30,415,000. Burney Co. bought a new stake in shares of DXC Technology during the 2nd quarter worth $1,029,000. Investec Asset Management PTY Ltd bought a new stake in shares of DXC Technology during the 2nd quarter worth $434,000. Ameritas Investment Partners Inc. bought a new stake in shares of DXC Technology during the 2nd quarter worth $502,000. Finally, State Street Corp bought a new stake in shares of DXC Technology during the 2nd quarter worth $898,855,000. 84.76% of the stock is owned by hedge funds and other institutional investors.
Shares of DXC Technology (DXC) opened at $94.20 on Friday. The company has a market capitalization of $27,086.26, a price-to-earnings ratio of 17.33, a PEG ratio of 1.21 and a beta of 1.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51. DXC Technology has a 12-month low of $67.76 and a 12-month high of $99.44.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 6th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 0.76%. DXC Technology’s dividend payout ratio (DPR) is presently 122.03%.
In other news, EVP Michael G. Nefkens sold 35,340 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $92.00, for a total value of $3,251,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
DXC has been the subject of several research reports. Barclays raised their price objective on DXC Technology from $90.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. KeyCorp reissued an “overweight” rating and set a $99.00 price objective (up from $92.00) on shares of DXC Technology in a research note on Monday, October 9th. Cantor Fitzgerald raised their price objective on DXC Technology from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Jefferies Group raised their price objective on DXC Technology from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Finally, Citigroup raised their price objective on DXC Technology from $97.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $99.88.
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DXC Technology 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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