DXC Technology (DXC) Position Trimmed by Axa
Axa reduced its position in DXC Technology (NYSE:DXC) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,032 shares of the company’s stock after selling 626 shares during the quarter. Axa owned 0.09% of DXC Technology worth $22,933,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Prudential Financial Inc. purchased a new position in DXC Technology during the second quarter valued at approximately $30,415,000. Burney Co. purchased a new position in DXC Technology during the second quarter valued at approximately $1,029,000. Investec Asset Management PTY Ltd purchased a new position in DXC Technology during the second quarter valued at approximately $434,000. Ameritas Investment Partners Inc. purchased a new position in DXC Technology during the second quarter valued at approximately $502,000. Finally, State Street Corp purchased a new position in DXC Technology during the second quarter valued at approximately $898,855,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Michael G. Nefkens sold 35,340 shares of DXC Technology 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.
DXC Technology (NYSE:DXC) last announced its earnings results on Tuesday, November 7th. The company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.40. DXC Technology had a net margin of 1.88% and a return on equity of 17.83%. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $6.07 billion. DXC Technology’s revenue for the quarter was up 229.4% on a year-over-year basis. equities research analysts anticipate that DXC Technology will post 7.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.18 per share. 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 payout ratio is currently 122.03%.
Several equities analysts recently issued reports on DXC shares. Barclays lifted their price objective on shares of DXC Technology from $90.00 to $100.00 and gave the company an “overweight” rating in a report 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 report on Monday, October 9th. Cantor Fitzgerald lifted their price objective on shares of DXC Technology from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, October 13th. Jefferies Group lifted their price objective on shares of DXC Technology from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Citigroup lifted their price objective on shares of DXC Technology from $97.00 to $101.00 and gave the company a “buy” rating in a report on Friday, October 13th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. DXC Technology currently has an average rating of “Buy” and a consensus price target 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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