DXC Technology Co (DXC) Shares Bought by Dorsal Capital Management LLC

Dorsal Capital Management LLC boosted its position in DXC Technology Co (NYSE:DXC) by 13.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,250,000 shares of the company’s stock after purchasing an additional 150,000 shares during the period. DXC Technology comprises about 6.8% of Dorsal Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position. Dorsal Capital Management LLC’s holdings in DXC Technology were worth $116,900,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Aperio Group LLC lifted its position in shares of DXC Technology by 19.1% during the 3rd quarter. Aperio Group LLC now owns 196,646 shares of the company’s stock valued at $18,390,000 after buying an additional 31,535 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of DXC Technology by 327.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 481,952 shares of the company’s stock valued at $45,093,000 after buying an additional 369,322 shares in the last quarter. United Services Automobile Association lifted its position in shares of DXC Technology by 17.0% during the 2nd quarter. United Services Automobile Association now owns 304,422 shares of the company’s stock valued at $24,540,000 after buying an additional 44,195 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of DXC Technology by 17.5% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 37,078 shares of the company’s stock valued at $3,468,000 after buying an additional 5,526 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of DXC Technology by 111.8% during the 3rd quarter. Legacy Financial Advisors Inc. now owns 1,413 shares of the company’s stock valued at $132,000 after buying an additional 746 shares in the last quarter. 85.45% of the stock is currently owned by institutional investors and hedge funds.

NYSE DXC opened at $62.03 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 1.04. DXC Technology Co has a 12 month low of $57.59 and a 12 month high of $107.85. The company has a market capitalization of $17.38 billion, a P/E ratio of 7.81, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Tuesday, November 6th. The company reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.96 by $0.06. DXC Technology had a return on equity of 19.07% and a net margin of 8.15%. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the previous year, the firm earned $1.93 EPS. The firm’s revenue was down 8.1% compared to the same quarter last year. As a group, equities analysts forecast that DXC Technology Co will post 8.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 5th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, December 4th. DXC Technology’s payout ratio is 9.57%.

In other DXC Technology news, CFO Paul N. Saleh sold 50,000 shares of DXC Technology stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $92.03, for a total value of $4,601,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John M. Lawrie sold 5,000 shares of DXC Technology stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $93.90, for a total value of $469,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,500 shares of company stock worth $10,807,348. Corporate insiders own 0.65% of the company’s stock.

A number of research analysts have recently weighed in on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of DXC Technology in a research report on Wednesday, October 24th. ValuEngine cut DXC Technology from a “sell” rating to a “strong sell” rating in a report on Friday, November 2nd. Zacks Investment Research cut DXC Technology from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Cantor Fitzgerald reissued a “hold” rating and issued a $70.00 price target on shares of DXC Technology in a report on Wednesday, November 7th. Finally, KeyCorp boosted their price target on DXC Technology from $109.00 to $111.00 and gave the stock an “overweight” rating in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $95.71.

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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).

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

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