Glenmede Trust Co. NA Decreases Position in DXC Technology (DXC)
Glenmede Trust Co. NA reduced its stake in shares of DXC Technology (NYSE:DXC) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 145,946 shares of the company’s stock after selling 3,393 shares during the quarter. Glenmede Trust Co. NA’s holdings in DXC Technology were worth $13,848,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hoylecohen LLC acquired a new stake in DXC Technology in the fourth quarter valued at approximately $332,000. Verition Fund Management LLC acquired a new stake in DXC Technology in the fourth quarter valued at approximately $299,000. LPL Financial LLC lifted its stake in DXC Technology by 16.6% in the fourth quarter. LPL Financial LLC now owns 25,824 shares of the company’s stock valued at $2,451,000 after acquiring an additional 3,673 shares during the last quarter. Millennium Management LLC lifted its stake in DXC Technology by 76.4% in the fourth quarter. Millennium Management LLC now owns 1,411,526 shares of the company’s stock valued at $133,954,000 after acquiring an additional 611,366 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in DXC Technology in the fourth quarter valued at approximately $815,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.
A number of analysts have issued reports on DXC shares. Zacks Investment Research cut shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Morgan Stanley lifted their target price on shares of DXC Technology from $104.00 to $114.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. KeyCorp lifted their target price on shares of DXC Technology from $107.00 to $116.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Deutsche Bank lifted their price target on shares of DXC Technology from $90.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, SunTrust Banks raised shares of DXC Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. DXC Technology currently has a consensus rating of “Buy” and a consensus price target of $103.33.
DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, February 8th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. DXC Technology had a net margin of 5.18% and a return on equity of 17.97%. The business had revenue of $6.19 billion for the quarter, compared to analyst estimates of $6.19 billion. The company’s revenue for the quarter was up 222.7% compared to the same quarter last year. analysts expect that DXC Technology will post 7.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Wednesday, March 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, March 27th. DXC Technology’s dividend payout ratio (DPR) is presently 23.53%.
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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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