Water Island Capital LLC Purchases New Stake in DXC Technology Co (DXC)

Water Island Capital LLC purchased a new stake in DXC Technology Co (NYSE:DXC) in the first quarter, HoldingsChannel reports. The fund purchased 650 shares of the company’s stock, valued at approximately $42,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in DXC Technology by 6.7% during the 3rd quarter. Legal & General Group Plc now owns 1,457,609 shares of the company’s stock valued at $136,360,000 after purchasing an additional 91,635 shares during the period. Vanguard Group Inc raised its holdings in shares of DXC Technology by 0.6% during the third quarter. Vanguard Group Inc now owns 20,616,012 shares of the company’s stock valued at $1,928,010,000 after acquiring an additional 122,686 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of DXC Technology by 1.9% during the fourth quarter. State of Alaska Department of Revenue now owns 47,912 shares of the company’s stock valued at $2,546,000 after acquiring an additional 890 shares during the period. Gateway Investment Advisers LLC raised its holdings in shares of DXC Technology by 3.8% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,438 shares of the company’s stock valued at $714,000 after acquiring an additional 493 shares during the period. Finally, DNB Asset Management AS raised its holdings in shares of DXC Technology by 51.8% during the fourth quarter. DNB Asset Management AS now owns 54,956 shares of the company’s stock valued at $2,922,000 after acquiring an additional 18,743 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on the stock. SunTrust Banks boosted their price target on shares of DXC Technology to $72.00 and gave the company a “hold” rating in a report on Monday, February 11th. Goldman Sachs Group lowered shares of DXC Technology from a “conviction-buy” rating to a “buy” rating in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $88.27.

DXC Technology stock traded up $0.37 during trading hours on Thursday, hitting $57.76. The company had a trading volume of 37,296 shares, compared to its average volume of 1,989,354. The firm has a market cap of $15.02 billion, a PE ratio of 7.26, a P/E/G ratio of 0.91 and a beta of 1.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.00 and a current ratio of 1.00. DXC Technology Co has a fifty-two week low of $49.19 and a fifty-two week high of $101.81.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Wednesday, March 27th were paid a $0.19 dividend. The ex-dividend date was Tuesday, March 26th. This represents a $0.76 annualized dividend and a yield of 1.32%. DXC Technology’s dividend payout ratio is presently 9.57%.

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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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