DXC Technology (DXC) Position Increased by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC increased its holdings in DXC Technology (NYSE:DXC) by 326.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,613 shares of the company’s stock after purchasing an additional 30,316 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in DXC Technology were worth $3,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of DXC. Vanguard Group Inc. grew its stake in shares of DXC Technology by 30,928.2% in the second quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock worth $1,593,568,000 after purchasing an additional 20,704,283 shares during the last quarter. BlackRock Inc. bought a new stake in shares of DXC Technology in the second quarter worth about $1,368,006,000. Dodge & Cox bought a new stake in shares of DXC Technology in the second quarter worth about $1,032,608,000. State Street Corp bought a new stake in shares of DXC Technology in the second quarter worth about $898,855,000. Finally, Glenview Capital Management LLC bought a new stake in shares of DXC Technology in the second quarter worth about $625,894,000. 84.76% of the stock is currently owned by institutional investors.
In other news, EVP Michael G. Nefkens sold 35,340 shares of DXC Technology stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $92.00, for a total transaction of $3,251,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.
Several research firms recently issued reports on DXC. Cantor Fitzgerald raised their target price on DXC Technology from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Cowen reissued a “hold” rating and issued a $85.00 target price on shares of DXC Technology in a research note on Thursday, October 12th. KeyCorp reissued an “overweight” rating and issued a $99.00 target price (up from $92.00) on shares of DXC Technology in a research note on Monday, October 9th. Zacks Investment Research raised DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 target price on the stock in a research note on Tuesday, October 10th. Finally, BMO Capital Markets raised their target price on DXC Technology from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $99.88.
DXC Technology (NYSE DXC) opened at $94.79 on Wednesday. DXC Technology has a 1-year low of $67.76 and a 1-year high of $99.44. The stock has a market cap of $27,320.18, a P/E ratio of 17.48, a PEG ratio of 1.22 and a beta of 1.04. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51.
DXC Technology (NYSE:DXC) last released its earnings results on Tuesday, November 7th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.40. DXC Technology had a net margin of 1.88% and a return on equity of 17.83%. The firm had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.07 billion. The firm’s revenue was up 229.4% compared to the same quarter last year. sell-side analysts predict that DXC Technology will post 7.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.72 annualized dividend and a dividend yield of 0.76%. DXC Technology’s payout ratio is 122.03%.
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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 two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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