Cullen Frost Bankers Inc. reduced its stake in DXC Technology Co (NYSE:DXC) by 16.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,447 shares of the company’s stock after selling 22,015 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in DXC Technology were worth $3,206,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in DXC. Liberty Wealth Management LLC grew its stake in shares of DXC Technology by 143.8% during the 2nd quarter. Liberty Wealth Management LLC now owns 568 shares of the company’s stock worth $31,000 after purchasing an additional 335 shares during the period. Coastal Investment Advisors Inc. raised its holdings in shares of DXC Technology by 348.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 704 shares of the company’s stock valued at $25,000 after buying an additional 547 shares during the period. Covington Capital Management raised its holdings in shares of DXC Technology by 346.3% during the 2nd quarter. Covington Capital Management now owns 732 shares of the company’s stock valued at $40,000 after buying an additional 568 shares during the period. CWM LLC raised its holdings in shares of DXC Technology by 66.6% during the 2nd quarter. CWM LLC now owns 813 shares of the company’s stock valued at $45,000 after buying an additional 325 shares during the period. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of DXC Technology during the 2nd quarter valued at about $51,000. 86.47% of the stock is owned by hedge funds and other institutional investors.
DXC has been the topic of several analyst reports. Zacks Investment Research downgraded DXC Technology from a “hold” rating to a “sell” rating and set a $29.00 target price on the stock. in a report on Thursday, October 17th. ValuEngine upgraded DXC Technology from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. BMO Capital Markets downgraded DXC Technology from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $60.00 to $48.00 in a report on Friday, August 9th. Citigroup dropped their target price on DXC Technology from $60.00 to $47.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Stifel Nicolaus dropped their target price on DXC Technology from $46.00 to $37.00 and set a “hold” rating on the stock in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $56.14.
Shares of DXC traded up $0.51 during mid-day trading on Friday, hitting $30.05. The stock had a trading volume of 81,037 shares, compared to its average volume of 3,603,572. The company has a market cap of $7.76 billion, a PE ratio of 3.60, a PEG ratio of 1.04 and a beta of 1.92. The company’s fifty day simple moving average is $28.56 and its two-hundred day simple moving average is $44.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.80. DXC Technology Co has a fifty-two week low of $26.02 and a fifty-two week high of $69.45.
DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.03. DXC Technology had a return on equity of 19.57% and a net margin of 5.70%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. Equities analysts expect that DXC Technology Co will post 7.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Wednesday, December 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $0.84 dividend on an annualized basis and a yield of 2.80%. DXC Technology’s dividend payout ratio is currently 10.07%.
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 three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).
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