Wells Fargo & Company MN Sells 142,010 Shares of DXC Technology (DXC)
Wells Fargo & Company MN cut its stake in DXC Technology (NYSE:DXC) by 19.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 599,463 shares of the company’s stock after selling 142,010 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of DXC Technology worth $51,480,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Zeke Capital Advisors LLC purchased a new position in shares of DXC Technology during the 3rd quarter worth $395,000. Budros Ruhlin & Roe Inc. purchased a new position in shares of DXC Technology during the 3rd quarter worth $200,000. Amalgamated Bank grew its holdings in shares of DXC Technology by 3.0% during the 3rd quarter. Amalgamated Bank now owns 34,141 shares of the company’s stock worth $2,932,000 after purchasing an additional 1,004 shares during the period. Twin Capital Management Inc. grew its holdings in shares of DXC Technology by 20.0% during the 3rd quarter. Twin Capital Management Inc. now owns 72,905 shares of the company’s stock worth $6,261,000 after purchasing an additional 12,168 shares during the period. Finally, Cadence Capital Management LLC purchased a new position in shares of DXC Technology during the 3rd quarter worth $1,593,000. 84.76% of the stock is owned by institutional investors and hedge funds.
DXC Technology (NYSE DXC) opened at $95.93 on Friday. DXC Technology has a twelve month low of $67.76 and a twelve month high of $99.44. The company has a market capitalization of $27,365.86, a PE ratio of 17.51, a P/E/G ratio of 1.23 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 announced its earnings results on Tuesday, November 7th. The company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.40. DXC Technology had a return on equity of 17.83% and a net margin of 1.88%. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $6.07 billion. DXC Technology’s revenue for the quarter was up 229.4% compared to the same quarter last year. equities analysts anticipate that DXC Technology will post 7.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Wednesday, December 6th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, December 5th. DXC Technology’s dividend payout ratio (DPR) is 122.03%.
A number of equities analysts have recently weighed in on DXC shares. Jefferies Group increased their price target on DXC Technology from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. KeyCorp reiterated a “buy” rating and set a $92.00 price target on shares of DXC Technology in a report on Friday, September 8th. Bank of America started coverage on DXC Technology in a report on Tuesday, September 12th. They set a “buy” rating and a $101.00 price target for the company. BMO Capital Markets increased their price target on DXC Technology from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, September 15th. Finally, Zacks Investment Research upgraded DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Tuesday, October 10th. Four 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. The stock has a consensus rating of “Buy” and an average target price of $99.88.
In related news, EVP Michael G. Nefkens sold 35,340 shares of the firm’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $92.00, for a total transaction of $3,251,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.
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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