Reinhart Partners Inc. Has $22.69 Million Stake in DXC Technology Co (DXC)
Reinhart Partners Inc. lifted its position in shares of DXC Technology Co (NYSE:DXC) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 352,824 shares of the company’s stock after buying an additional 26,603 shares during the quarter. DXC Technology comprises about 2.1% of Reinhart Partners Inc.’s holdings, making the stock its 22nd largest position. Reinhart Partners Inc. owned 0.13% of DXC Technology worth $22,690,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in DXC. Heritage Investors Management Corp boosted its holdings in shares of DXC Technology by 0.7% during the 1st quarter. Heritage Investors Management Corp now owns 33,683 shares of the company’s stock worth $2,166,000 after buying an additional 220 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in DXC Technology by 4.6% in the first quarter. State of Alaska Department of Revenue now owns 50,102 shares of the company’s stock worth $3,220,000 after purchasing an additional 2,190 shares during the period. UNIVEST FINANCIAL Corp grew its holdings in DXC Technology by 122.8% in the first quarter. UNIVEST FINANCIAL Corp now owns 68,314 shares of the company’s stock worth $4,393,000 after purchasing an additional 37,657 shares during the period. Washington Trust Bank increased its stake in DXC Technology by 153.2% in the first quarter. Washington Trust Bank now owns 117,457 shares of the company’s stock valued at $7,554,000 after purchasing an additional 71,059 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of DXC Technology during the first quarter valued at about $2,666,000. 86.73% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reissued a “hold” rating and set a $70.00 price objective on shares of DXC Technology in a research report on Monday, January 7th. SunTrust Banks raised their price objective on DXC Technology to $72.00 and gave the company a “hold” rating in a research note on Monday, February 11th. BMO Capital Markets restated a “buy” rating and set a $85.00 price objective on shares of DXC Technology in a report on Monday, January 7th. Finally, Zacks Investment Research upgraded DXC Technology from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given 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 $91.42.
DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, February 7th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.19. The firm had revenue of $5.18 billion for the quarter, compared to the consensus estimate of $5.16 billion. DXC Technology had a return on equity of 19.78% and a net margin of 7.09%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.86 earnings per share. On average, equities research analysts forecast that DXC Technology Co will post 8.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Wednesday, March 27th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.19%. The ex-dividend date is Tuesday, March 26th. DXC Technology’s payout ratio is 9.57%.
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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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