Letko Brosseau & Associates Inc. Increases Position in DXC Technology Co (NYSE:DXC)

Letko Brosseau & Associates Inc. lifted its holdings in DXC Technology Co (NYSE:DXC) by 70.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 602,276 shares of the company’s stock after buying an additional 249,310 shares during the period. Letko Brosseau & Associates Inc. owned approximately 0.23% of DXC Technology worth $33,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coastal Investment Advisors Inc. lifted its stake in DXC Technology by 348.4% in the second quarter. Coastal Investment Advisors Inc. now owns 704 shares of the company’s stock valued at $25,000 after purchasing an additional 547 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in DXC Technology by 143.8% in the second quarter. Liberty Wealth Management LLC now owns 568 shares of the company’s stock valued at $31,000 after purchasing an additional 335 shares during the last quarter. Truvestments Capital LLC purchased a new position in DXC Technology in the first quarter valued at approximately $37,000. Cornerstone Advisors Inc. lifted its stake in DXC Technology by 100.0% in the first quarter. Cornerstone Advisors Inc. now owns 578 shares of the company’s stock valued at $37,000 after purchasing an additional 289 shares during the last quarter. Finally, Water Island Capital LLC purchased a new position in DXC Technology in the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Several equities analysts recently commented on the company. Zacks Investment Research downgraded DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 price objective on the stock. in a research note on Tuesday. Goldman Sachs Group downgraded DXC Technology from a “conviction-buy” rating to a “buy” rating in a research note on Monday, April 22nd. Cowen dropped their price objective on DXC Technology from $83.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Co dropped their price objective on DXC Technology from $72.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. Finally, TheStreet cut shares of DXC Technology from a “b-” rating to a “c+” rating in a report on Thursday, May 23rd. Two equities research 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. The stock has an average rating of “Hold” and an average price target of $69.17.

In other news, EVP Joanne Mason sold 1,768 shares of the company’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 legal filing with the SEC, which is available at this hyperlink. Also, CEO John M. Lawrie purchased 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $49.56 per share, for a total transaction of $495,600.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,066 shares of company stock worth $1,153,043 in the last three months. Insiders own 0.81% of the company’s stock.

DXC stock traded down $1.13 during midday trading on Thursday, reaching $30.62. 164,054 shares of the company’s stock traded hands, compared to its average volume of 3,516,229. The firm has a 50-day moving average price of $52.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.96 and a quick ratio of 0.96. DXC Technology Co has a 52 week low of $31.50 and a 52 week high of $96.75. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of 3.66, a PEG ratio of 1.17 and a beta of 1.74.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. On average, sell-side analysts forecast that DXC Technology Co will post 7.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.21 per share. This is a boost from DXC Technology’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, June 4th. This represents a $0.84 dividend on an annualized basis and a yield of 2.74%. DXC Technology’s payout ratio is presently 10.07%.

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).

Featured Story: Trading Stocks – What are percentage gainers?

Want to see what other hedge funds are holding DXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DXC Technology Co (NYSE:DXC).

Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.