Traders Buy DXC Technology (DXC) on Weakness
Traders bought shares of DXC Technology (NYSE:DXC) on weakness during trading hours on Wednesday. $104.56 million flowed into the stock on the tick-up and $40.70 million flowed out of the stock on the tick-down, for a money net flow of $63.86 million into the stock. Of all equities tracked, DXC Technology had the 12th highest net in-flow for the day. DXC Technology traded down ($0.93) for the day and closed at $106.38
DXC has been the topic of a number of recent research reports. Deutsche Bank increased their price target on DXC Technology from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Citigroup reaffirmed a “buy” rating and set a $117.00 price objective (up previously from $107.00) on shares of DXC Technology in a research report on Thursday, January 18th. KeyCorp raised their price objective on DXC Technology from $107.00 to $116.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. ValuEngine raised DXC Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. Finally, BMO Capital Markets raised their price objective on DXC Technology from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. DXC Technology currently has a consensus rating of “Buy” and a consensus price target of $103.33.
The firm has a market capitalization of $30,391.48, a PE ratio of 33.67, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Wednesday, March 28th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.70%. The ex-dividend date is Tuesday, March 27th. DXC Technology’s dividend payout ratio is presently 23.53%.
A number of hedge funds and other institutional investors have recently modified their holdings of DXC. Investec Asset Management LTD boosted its holdings in DXC Technology by 153.8% in the third quarter. Investec Asset Management LTD now owns 3,835,559 shares of the company’s stock worth $329,398,000 after acquiring an additional 2,324,095 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in DXC Technology by 319,135.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 2,049,489 shares of the company’s stock worth $194,497,000 after acquiring an additional 2,048,847 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in DXC Technology by 67.2% in the third quarter. JPMorgan Chase & Co. now owns 4,030,749 shares of the company’s stock worth $341,768,000 after acquiring an additional 1,619,573 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in DXC Technology by 27.4% in the third quarter. Janus Henderson Group PLC now owns 3,252,957 shares of the company’s stock worth $279,377,000 after acquiring an additional 699,026 shares in the last quarter. Finally, Jana Partners LLC boosted its holdings in DXC Technology by 45.1% in the third quarter. Jana Partners LLC now owns 2,085,092 shares of the company’s stock worth $179,068,000 after acquiring an additional 647,853 shares in the last quarter. 84.83% of the stock is owned by institutional investors and hedge funds.
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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 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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