Comerica Bank Sells 1,292 Shares of DXC Technology Co (NYSE:DXC)
Comerica Bank lowered its position in DXC Technology Co (NYSE:DXC) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 81,852 shares of the company’s stock after selling 1,292 shares during the period. Comerica Bank’s holdings in DXC Technology were worth $2,244,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of DXC Technology by 23.2% in the 2nd quarter. Vanguard Group Inc. now owns 25,403,686 shares of the company’s stock worth $1,401,012,000 after acquiring an additional 4,785,824 shares in the last quarter. Maverick Capital Ltd. raised its position in shares of DXC Technology by 35.4% in the 2nd quarter. Maverick Capital Ltd. now owns 7,254,821 shares of the company’s stock worth $400,103,000 after acquiring an additional 1,897,988 shares in the last quarter. Invesco Ltd. raised its position in shares of DXC Technology by 133.7% in the 2nd quarter. Invesco Ltd. now owns 4,199,338 shares of the company’s stock worth $231,593,000 after acquiring an additional 2,402,773 shares in the last quarter. Putnam Investments LLC increased its position in DXC Technology by 1.4% during the 2nd quarter. Putnam Investments LLC now owns 4,041,939 shares of the company’s stock valued at $222,913,000 after buying an additional 56,096 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in DXC Technology by 23.4% during the 2nd quarter. Prudential Financial Inc. now owns 3,308,632 shares of the company’s stock valued at $182,471,000 after buying an additional 626,625 shares in the last quarter. 84.25% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on DXC. Cantor Fitzgerald reduced their price objective on DXC Technology from $42.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday. Citigroup reduced their price objective on DXC Technology from $60.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, October 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $35.00 price objective on shares of DXC Technology in a research report on Tuesday. ValuEngine raised DXC Technology from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI reaffirmed a “hold” rating on shares of DXC Technology in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. DXC Technology has an average rating of “Hold” and a consensus target price of $49.43.
DXC Technology (NYSE:DXC) last posted its earnings results on Monday, November 11th. The company reported $1.38 EPS for the quarter, missing the Zacks’ consensus estimate of $1.44 by ($0.06). The business had revenue of $4.85 billion during the quarter, compared to the consensus estimate of $4.92 billion. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 EPS. On average, equities research analysts forecast that DXC Technology Co will post 7.3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Wednesday, December 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, December 3rd. DXC Technology’s payout ratio is 10.07%.
DXC Technology 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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