Bank of Montreal Can Lowers Position in DXC Technology Co (DXC)

Bank of Montreal Can decreased its position in DXC Technology Co (NYSE:DXC) by 18.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,537,171 shares of the company’s stock after selling 337,511 shares during the period. Bank of Montreal Can owned 0.55% of DXC Technology worth $143,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DXC. OppenheimerFunds Inc. boosted its holdings in shares of DXC Technology by 203.6% in the second quarter. OppenheimerFunds Inc. now owns 2,809,907 shares of the company’s stock valued at $226,508,000 after purchasing an additional 1,884,465 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of DXC Technology by 1,424.2% in the second quarter. Point72 Asset Management L.P. now owns 1,687,338 shares of the company’s stock valued at $136,016,000 after purchasing an additional 1,576,638 shares during the period. Natixis boosted its holdings in shares of DXC Technology by 548.4% in the second quarter. Natixis now owns 1,779,865 shares of the company’s stock valued at $143,475,000 after purchasing an additional 1,505,379 shares during the period. First Trust Advisors LP purchased a new stake in shares of DXC Technology in the second quarter valued at approximately $84,760,000. Finally, Hexavest Inc. purchased a new stake in shares of DXC Technology in the third quarter valued at approximately $75,669,000. Hedge funds and other institutional investors own 85.16% of the company’s stock.

DXC has been the subject of a number of research reports. Moffett Nathanson initiated coverage on DXC Technology in a report on Thursday, October 4th. They issued a “buy” rating and a $95.00 price target for the company. Cantor Fitzgerald reduced their price objective on shares of DXC Technology from $97.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, August 9th. Zacks Investment Research downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of DXC Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, June 26th. Finally, Wolfe Research initiated coverage on shares of DXC Technology in a research note on Tuesday, July 17th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. DXC Technology currently has an average rating of “Buy” and an average target price of $103.82.

Shares of NYSE:DXC opened at $87.66 on Friday. The company has a market capitalization of $26.29 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. DXC Technology Co has a 52 week low of $77.96 and a 52 week high of $107.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.40.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.18. The company had revenue of $5.28 billion during the quarter, compared to the consensus estimate of $5.32 billion. DXC Technology had a net margin of 7.74% and a return on equity of 18.67%. On average, sell-side analysts predict that DXC Technology Co will post 8.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 16th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, September 4th. DXC Technology’s payout ratio is presently 9.57%.

In other news, EVP William L. Deckelman, Jr. sold 8,084 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $90.00, for a total transaction of $727,560.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Joanne Mason sold 1,726 shares of the company’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $87.74, for a total value of $151,439.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 210,253 shares of company stock worth $19,141,381. Insiders own 0.65% of the company’s stock.

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).

Further Reading: What is the balance sheet?

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Institutional Ownership by Quarter for DXC Technology (NYSE:DXC)

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