Lateef Investment Management L.P. purchased a new position in shares of DXC Technology (NYSE:DXC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 285,600 shares of the company’s stock, valued at approximately $24,527,000. DXC Technology comprises about 2.2% of Lateef Investment Management L.P.’s portfolio, making the stock its 22nd biggest position. Lateef Investment Management L.P. owned about 0.10% of DXC Technology at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in DXC Technology in the second quarter valued at about $101,000. Hanson McClain Inc. bought a new position in DXC Technology during the 2nd quarter worth approximately $105,000. Pinebridge Investments L.P. bought a new position in DXC Technology during the 2nd quarter worth approximately $106,000. Oppenheimer Asset Management Inc. bought a new position in DXC Technology during the 2nd quarter worth approximately $109,000. Finally, Westside Investment Management Inc. lifted its holdings in DXC Technology by 3.4% during the 2nd quarter. Westside Investment Management Inc. now owns 1,512 shares of the company’s stock worth $118,000 after buying an additional 50 shares during the last quarter. Institutional investors and hedge funds own 84.66% of the company’s stock.
Shares of DXC Technology (NYSE:DXC) traded down $0.07 during trading on Friday, hitting $94.90. The stock had a trading volume of 881,367 shares, compared to its average volume of 1,327,023. The firm has a market capitalization of $27,091.97, a PE ratio of 160.85, a PEG ratio of 1.20 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 has a 1-year low of $67.76 and a 1-year high of $99.44.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.72 annualized dividend and a yield of 0.76%. DXC Technology’s dividend payout ratio (DPR) is currently 122.03%.
Several analysts recently issued reports on DXC shares. Zacks Investment Research raised DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a report on Tuesday, October 10th. KeyCorp restated an “overweight” rating and issued a $99.00 target price (up from $92.00) on shares of DXC Technology in a research report on Monday, October 9th. Citigroup raised their target price on DXC Technology from $97.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Morgan Stanley restated an “overweight” rating and issued a $104.00 target price (up from $86.00) on shares of DXC Technology in a research report on Wednesday, October 18th. They noted that the move was a valuation call. Finally, Royal Bank of Canada restated a “buy” rating and issued a $87.00 target price on shares of DXC Technology in a research report on Friday, October 13th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $99.88.
In other DXC Technology 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by company insiders.
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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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