Sawtooth Solutions LLC Sells 2,784 Shares of DXC Technology Co (NYSE:DXC)
Sawtooth Solutions LLC trimmed its position in DXC Technology Co (NYSE:DXC) by 41.0% during the first quarter, Holdings Channel reports. The fund owned 4,008 shares of the company’s stock after selling 2,784 shares during the quarter. Sawtooth Solutions LLC’s holdings in DXC Technology were worth $258,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Advisor Partners LLC grew its stake in shares of DXC Technology by 2.1% during the first quarter. Advisor Partners LLC now owns 8,341 shares of the company’s stock worth $536,000 after buying an additional 168 shares during the last quarter. Commerce Bank grew its stake in shares of DXC Technology by 1.7% during the first quarter. Commerce Bank now owns 10,287 shares of the company’s stock worth $661,000 after buying an additional 172 shares during the last quarter. Whittier Trust Co. grew its stake in shares of DXC Technology by 5.1% during the first quarter. Whittier Trust Co. now owns 3,741 shares of the company’s stock worth $241,000 after buying an additional 182 shares during the last quarter. Heritage Investors Management Corp grew its stake in shares of DXC Technology by 0.7% during the first quarter. Heritage Investors Management Corp now owns 33,683 shares of the company’s stock worth $2,166,000 after buying an additional 220 shares during the last quarter. Finally, Point View Wealth Management Inc. grew its stake in shares of DXC Technology by 0.8% during the first quarter. Point View Wealth Management Inc. now owns 28,298 shares of the company’s stock worth $1,820,000 after buying an additional 225 shares during the last quarter. 85.36% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have weighed in on DXC shares. KeyCorp decreased their target price on shares of DXC Technology from $97.00 to $88.00 and set an “overweight” rating on the stock in a research note on Monday, May 20th. TheStreet cut shares of DXC Technology from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Goldman Sachs Group lowered shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a report on Monday, April 22nd. BMO Capital Markets cut their price target on shares of DXC Technology from $88.00 to $70.00 and set an “outperform” rating on the stock in a report on Tuesday, May 21st. Finally, Bank of America cut their price target on shares of DXC Technology from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $80.92.
DXC Technology (NYSE:DXC) last released its earnings results on Thursday, May 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.12. The business had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.30 billion. DXC Technology had a net margin of 6.06% and a return on equity of 20.08%. DXC Technology’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.28 earnings per share. Research analysts expect that DXC Technology Co will post 8.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th will be issued a $0.21 dividend. This is a positive change from DXC Technology’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 1.68%. DXC Technology’s payout ratio is presently 10.07%.
In related news, EVP Joanne Mason sold 1,768 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $52.29, for a total value of $92,448.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.
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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 three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).
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