Franklin Resources Inc. reduced its stake in DXC Technology (NYSE:DXC) by 42.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,951,847 shares of the company’s stock after selling 2,922,912 shares during the quarter. Franklin Resources Inc. owned about 1.38% of DXC Technology worth $397,283,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of DXC. Stuart Chaussee & Associates Inc. bought a new position in DXC Technology in the 4th quarter valued at approximately $100,000. Calton & Associates Inc. bought a new position in DXC Technology in the 4th quarter valued at approximately $112,000. Financial Gravity Companies Inc. bought a new position in DXC Technology in the 4th quarter valued at approximately $130,000. Signaturefd LLC bought a new position in DXC Technology in the 1st quarter valued at approximately $137,000. Finally, BB&T Investment Services Inc. bought a new position in DXC Technology in the 4th quarter valued at approximately $143,000. 83.99% of the stock is currently owned by hedge funds and other institutional investors.
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NYSE DXC opened at $94.21 on Friday. The firm has a market cap of $26.91 billion, a PE ratio of 11.85, a PEG ratio of 1.00 and a beta of 0.94. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. DXC Technology has a 1-year low of $73.51 and a 1-year high of $107.85.
DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, May 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.06. The firm had revenue of $6.29 billion for the quarter, compared to analysts’ expectations of $6.12 billion. DXC Technology had a return on equity of 18.14% and a net margin of 7.13%. The firm’s revenue was up 233.2% compared to the same quarter last year. analysts forecast that DXC Technology will post 8.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 17th. Stockholders of record on Wednesday, June 6th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.81%. This is a boost from DXC Technology’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, June 5th. DXC Technology’s dividend payout ratio is presently 9.07%.
Several equities analysts recently issued reports on the company. ValuEngine raised DXC Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. Berenberg Bank assumed coverage on DXC Technology in a research report on Wednesday, April 18th. They issued a “hold” rating and a $100.00 price objective on the stock. BMO Capital Markets reaffirmed a “buy” rating on shares of DXC Technology in a research report on Friday, February 23rd. Citigroup upped their price objective on DXC Technology to $126.00 and gave the company a “top pick” rating in a research report on Thursday, April 12th. Finally, JPMorgan Chase & Co. upped their price objective on DXC Technology to $114.00 and gave the company an “overweight” rating in a research report on Thursday, April 5th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $107.00.
In other news, insider John M. Lawrie sold 5,000 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $103.04, for a total value of $515,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John M. Lawrie sold 9,900 shares of the company’s stock in a transaction on Wednesday, April 11th. The stock was sold at an average price of $102.35, for a total value of $1,013,265.00. Following the completion of the sale, the insider now owns 638,610 shares of the company’s stock, valued at $65,361,733.50. The disclosure for this sale can be found here. Insiders sold a total of 22,886 shares of company stock valued at $2,343,380 over the last 90 days. 1.30% of the stock is currently owned by company insiders.
DXC Technology Company 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).