BB&T Corp Raises Holdings in DXC Technology Co (DXC)

BB&T Corp raised its stake in DXC Technology Co (NYSE:DXC) by 18.9% in the third quarter, HoldingsChannel.com reports. The fund owned 75,215 shares of the company’s stock after buying an additional 11,931 shares during the quarter. BB&T Corp’s holdings in DXC Technology were worth $7,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. United Services Automobile Association boosted its stake in DXC Technology by 17.0% in the second quarter. United Services Automobile Association now owns 304,422 shares of the company’s stock valued at $24,540,000 after acquiring an additional 44,195 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in DXC Technology by 2.3% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 39,621 shares of the company’s stock valued at $3,194,000 after acquiring an additional 902 shares during the period. Neuburgh Advisers LLC boosted its stake in DXC Technology by 26.7% in the second quarter. Neuburgh Advisers LLC now owns 201,564 shares of the company’s stock valued at $16,248,000 after acquiring an additional 42,416 shares during the period. Weitz Investment Management Inc. boosted its stake in DXC Technology by 9.0% in the second quarter. Weitz Investment Management Inc. now owns 487,852 shares of the company’s stock valued at $39,326,000 after acquiring an additional 40,205 shares during the period. Finally, Natixis boosted its stake in DXC Technology by 548.4% in the second quarter. Natixis now owns 1,779,865 shares of the company’s stock valued at $143,475,000 after acquiring an additional 1,505,379 shares during the period. Institutional investors own 84.87% of the company’s stock.

In related news, insider John M. Lawrie sold 55,549 shares of the business’s stock in a transaction that occurred on Tuesday, August 28th. The stock was sold at an average price of $89.82, for a total transaction of $4,989,411.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Joanne Mason sold 1,726 shares of the business’s stock in a transaction that occurred on Tuesday, July 24th. The stock was sold at an average price of $87.74, for a total value of $151,439.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,253 shares of company stock worth $19,141,381. 0.65% of the stock is owned by corporate insiders.

A number of equities analysts have commented on the company. Wolfe Research started coverage on DXC Technology in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Cantor Fitzgerald cut their price target on DXC Technology from $97.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, August 9th. BMO Capital Markets cut their price target on DXC Technology from $113.00 to $110.00 and set an “outperform” rating on the stock in a report on Wednesday, August 8th. Royal Bank of Canada reaffirmed a “buy” rating and set a $103.00 price target on shares of DXC Technology in a report on Wednesday, August 8th. Finally, Cfra reaffirmed a “buy” rating and set a $105.00 price target on shares of DXC Technology in a report on Thursday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $103.13.

Shares of NYSE:DXC opened at $88.30 on Friday. DXC Technology Co has a 12 month low of $77.96 and a 12 month high of $107.85. The company has a market cap of $25.16 billion, a P/E ratio of 11.12, a PEG ratio of 1.52 and a beta of 0.96. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40.

DXC Technology (NYSE:DXC) last announced its earnings results on Tuesday, August 7th. The company reported $1.93 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $5.28 billion for the quarter, compared to analysts’ expectations of $5.32 billion. As a group, analysts anticipate that DXC Technology Co will post 8.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 5th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.76 annualized dividend and a yield of 0.86%. DXC Technology’s payout ratio is 9.57%.

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

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