Weitz Investment Management Inc. lifted its stake in DXC Technology Co (NYSE:DXC) by 9.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 487,852 shares of the company’s stock after buying an additional 40,205 shares during the period. DXC Technology makes up approximately 1.7% of Weitz Investment Management Inc.’s investment portfolio, making the stock its 17th biggest position. Weitz Investment Management Inc. owned about 0.17% of DXC Technology worth $39,326,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the stock. Summit Trail Advisors LLC raised its position in DXC Technology by 10,385.3% during the first quarter. Summit Trail Advisors LLC now owns 103,595 shares of the company’s stock valued at $104,000 after purchasing an additional 102,607 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in DXC Technology by 17,477.8% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,582 shares of the company’s stock valued at $128,000 after purchasing an additional 1,573 shares in the last quarter. Signaturefd LLC acquired a new position in DXC Technology during the first quarter valued at approximately $137,000. Security National Trust Co. acquired a new position in DXC Technology during the second quarter valued at approximately $161,000. Finally, Prospera Financial Services Inc acquired a new position in DXC Technology during the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 85.21% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of DXC Technology from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research report on Tuesday, August 21st. Cantor Fitzgerald lowered their price objective on shares of DXC Technology from $97.00 to $87.00 and set a “neutral” rating for the company in a research report on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and set a $103.00 price objective on shares of DXC Technology in a research report on Wednesday, August 8th. Morgan Stanley boosted their price objective on shares of DXC Technology from $101.00 to $103.00 and gave the company an “overweight” rating in a research report on Wednesday, August 8th. Finally, BMO Capital Markets lowered their price objective on shares of DXC Technology from $113.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, August 8th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. DXC Technology has an average rating of “Buy” and an average target price of $104.18.
Shares of DXC opened at $90.40 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $25.61 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.54 and a beta of 0.96. DXC Technology Co has a 12 month low of $77.96 and a 12 month high of $107.85.
DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $1.93 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.18. The business had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.32 billion. DXC Technology had a net margin of 7.74% and a return on equity of 18.67%. sell-side analysts predict that DXC Technology Co will post 8.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 16th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.84%. DXC Technology’s dividend payout ratio (DPR) is presently 9.57%.
In other news, insider John M. Lawrie sold 55,549 shares of the stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $89.82, for a total transaction of $4,989,411.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP William L. Deckelman, Jr. sold 8,084 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $90.00, for a total transaction of $727,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 92,753 shares of company stock worth $8,334,033 in the last three months. Insiders own 0.65% of the company’s stock.
About DXC Technology
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).
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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