Grisanti Capital Management LLC lowered its position in shares of DXC Technology Co (NYSE:DXC) by 28.4% during the third quarter, HoldingsChannel reports. The firm owned 61,840 shares of the company’s stock after selling 24,479 shares during the quarter. DXC Technology makes up about 2.8% of Grisanti Capital Management LLC’s portfolio, making the stock its 13th largest holding. Grisanti Capital Management LLC’s holdings in DXC Technology were worth $5,783,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. ELM Advisors LLC acquired a new stake in shares of DXC Technology during the third quarter worth about $105,000. Truvestments Capital LLC acquired a new stake in shares of DXC Technology during the third quarter worth about $117,000. Fort L.P. acquired a new stake in shares of DXC Technology during the second quarter worth about $120,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of 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 worth $128,000 after purchasing an additional 1,573 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in shares of DXC Technology by 111.8% during the third quarter. Legacy Financial Advisors Inc. now owns 1,413 shares of the company’s stock worth $132,000 after purchasing an additional 746 shares in the last quarter. Institutional investors and hedge funds own 85.40% of the company’s stock.
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 2,394 shares of DXC Technology stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $90.02, for a total value of $215,507.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John M. Lawrie sold 55,549 shares of DXC Technology stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $89.82, for a total value of $4,989,411.18. The disclosure for this sale can be found here. Insiders sold a total of 208,527 shares of company stock worth $18,989,941 in the last ninety days. 0.65% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on DXC. Zacks Investment Research upgraded DXC Technology from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a research report on Tuesday, August 21st. Moffett Nathanson began coverage on DXC Technology in a research report on Thursday, October 4th. They issued a “buy” rating and a $95.00 price target on the stock. KeyCorp boosted their price target on DXC Technology from $109.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, August 8th. ValuEngine cut DXC Technology from a “sell” rating to a “strong sell” rating in a research report on Friday. Finally, BMO Capital Markets dropped their price target on DXC Technology from $110.00 to $95.00 and set an “outperform” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $102.19.
Shares of DXC stock opened at $71.81 on Tuesday. The stock has a market capitalization of $19.86 billion, a P/E ratio of 9.04, a P/E/G ratio of 1.20 and a beta of 1.32. DXC Technology Co has a 52-week low of $68.59 and a 52-week high of $107.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 0.95.
DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $1.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.18. DXC Technology had a return on equity of 18.67% and a net margin of 7.74%. The company had revenue of $5.28 billion for the quarter, compared to analyst estimates of $5.32 billion. As a group, equities research analysts forecast that DXC Technology Co will post 8.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 5th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date is Tuesday, December 4th. DXC Technology’s dividend payout ratio is presently 9.57%.
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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).
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