Tocqueville Asset Management L.P. raised its stake in DXC Technology Co (NYSE:DXC) by 46.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 32,075 shares of the company’s stock after purchasing an additional 10,232 shares during the period. Tocqueville Asset Management L.P.’s holdings in DXC Technology were worth $1,769,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DXC. Advisor Partners LLC grew its position in DXC Technology by 2.1% in the 1st quarter. Advisor Partners LLC now owns 8,341 shares of the company’s stock worth $536,000 after purchasing an additional 168 shares during the last quarter. Commerce Bank grew its position in DXC Technology by 1.7% in the 1st quarter. Commerce Bank now owns 10,287 shares of the company’s stock worth $661,000 after purchasing an additional 172 shares during the last quarter. Whittier Trust Co. grew its position in DXC Technology by 5.1% in the 1st quarter. Whittier Trust Co. now owns 3,741 shares of the company’s stock worth $241,000 after purchasing an additional 182 shares during the last quarter. AGF Investments LLC grew its position in DXC Technology by 0.8% in the 2nd quarter. AGF Investments LLC now owns 22,639 shares of the company’s stock worth $1,249,000 after purchasing an additional 189 shares during the last quarter. Finally, Patten Group Inc. grew its position in DXC Technology by 2.0% in the 1st quarter. Patten Group Inc. now owns 11,124 shares of the company’s stock worth $715,000 after purchasing an additional 216 shares during the last quarter. 86.39% of the stock is owned by institutional investors.
In other news, EVP Joanne Mason sold 48,679 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $51.99, for a total transaction of $2,530,821.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John M. Lawrie purchased 10,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were purchased at an average price of $49.56 per share, for a total transaction of $495,600.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 22,066 shares of company stock valued at $1,153,043. Company insiders own 0.81% of the company’s stock.
DXC Technology (NYSE:DXC) last released its earnings results on Thursday, August 8th. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.71 by $0.03. DXC Technology had a net margin of 5.70% and a return on equity of 19.39%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The business’s quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts forecast that DXC Technology Co will post 7.4 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This is a positive change from DXC Technology’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 2.65%. DXC Technology’s dividend payout ratio is currently 10.07%.
A number of analysts have recently weighed in on DXC shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of DXC Technology in a research note on Sunday. BMO Capital Markets lowered shares of DXC Technology from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $60.00 to $48.00 in a research note on Friday, August 9th. TheStreet lowered shares of DXC Technology from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd. Evercore ISI reaffirmed a “buy” rating and issued a $82.00 price target on shares of DXC Technology in a research note on Sunday. Finally, Goldman Sachs Group lowered shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company’s stock. DXC Technology has an average rating of “Hold” and a consensus target price of $69.17.
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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