Teacher Retirement System of Texas lifted its stake in shares of DXC Technology Co (NYSE:DXC) by 52.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,147 shares of the company’s stock after purchasing an additional 72,713 shares during the quarter. Teacher Retirement System of Texas owned 0.08% of DXC Technology worth $11,700,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in DXC. Investec Asset Management LTD grew its holdings in shares of DXC Technology by 91.1% during the 2nd quarter. Investec Asset Management LTD now owns 1,699,755 shares of the company’s stock valued at $93,741,000 after purchasing an additional 810,375 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in DXC Technology by 72.8% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,487,161 shares of the company’s stock worth $95,639,000 after buying an additional 626,479 shares during the period. Poplar Forest Capital LLC boosted its position in DXC Technology by 157.0% during the 1st quarter. Poplar Forest Capital LLC now owns 908,310 shares of the company’s stock worth $58,413,000 after buying an additional 554,818 shares during the period. Geode Capital Management LLC boosted its position in DXC Technology by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,452,857 shares of the company’s stock worth $236,418,000 after buying an additional 451,768 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in DXC Technology by 14.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,299,958 shares of the company’s stock worth $175,464,000 after buying an additional 411,494 shares during the period. 86.39% of the stock is currently owned by institutional investors.
Several research firms recently commented on DXC. BMO Capital Markets downgraded shares of DXC Technology from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $60.00 to $48.00 in a research report on Friday, August 9th. KeyCorp cut their target price on shares of DXC Technology from $97.00 to $88.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Cowen cut their target price on shares of DXC Technology from $83.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. TheStreet downgraded shares of DXC Technology from a “b-” rating to a “c+” rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of DXC Technology in a research report on Sunday, August 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $69.17.
DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.74 EPS for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.86 billion. DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. DXC Technology’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. Research analysts expect that DXC Technology Co will post 7.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.50%. DXC Technology’s dividend payout ratio (DPR) is presently 10.07%.
In other DXC Technology news, insider John M. Lawrie purchased 4,166 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $56.26 per share, for a total transaction of $234,379.16. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joanne Mason sold 48,679 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $51.99, for a total transaction of $2,530,821.21. The disclosure for this sale can be found here. Insiders have acquired a total of 22,066 shares of company stock valued at $1,153,043 in the last 90 days. 0.81% of the stock is currently owned by company insiders.
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).
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