Wesbanco Bank Inc. increased its holdings in shares of DXC Technology (NYSE:DXC) by 1,448.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,403 shares of the company’s stock after purchasing an additional 34,987 shares during the period. Wesbanco Bank Inc.’s holdings in DXC Technology were worth $3,760,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Delpha Capital Management LLC raised its holdings in shares of DXC Technology by 1,400.0% in the first quarter. Delpha Capital Management LLC now owns 4,410 shares of the company’s stock worth $443,000 after buying an additional 4,116 shares during the last quarter. Banco de Sabadell S.A purchased a new position in shares of DXC Technology in the fourth quarter worth $1,384,000. Lombard Odier Asset Management Switzerland SA raised its holdings in shares of DXC Technology by 50.9% during the fourth quarter. Lombard Odier Asset Management Switzerland SA now owns 20,128 shares of the company’s stock worth $1,910,000 after purchasing an additional 6,785 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of DXC Technology by 8.3% during the fourth quarter. Advisor Group Inc. now owns 16,367 shares of the company’s stock worth $1,553,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Brown Advisory Inc. purchased a new position in shares of DXC Technology during the fourth quarter worth $211,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
In other news, EVP William L. Deckelman, Jr. sold 2,886 shares of the company’s stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $100.94, for a total value of $291,312.84. Following the completion of the transaction, the executive vice president now owns 13,082 shares in the company, valued at approximately $1,320,497.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John M. Lawrie sold 9,900 shares of the company’s stock in a transaction on Wednesday, April 11th. The shares were sold at an average price of $102.35, for a total transaction of $1,013,265.00. Following the completion of the transaction, the insider now owns 638,610 shares of the company’s stock, valued at approximately $65,361,733.50. The disclosure for this sale can be found here. Insiders sold 22,786 shares of company stock valued at $2,333,178 in the last 90 days. Company insiders own 1.30% of the company’s stock.
DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, May 24th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.06. The business had revenue of $6.29 billion for the quarter, compared to the consensus estimate of $6.12 billion. DXC Technology had a net margin of 7.13% and a return on equity of 17.74%. DXC Technology’s revenue for the quarter was up 233.2% compared to the same quarter last year. research analysts forecast that DXC Technology will post 8.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 17th. Investors of record on Wednesday, June 6th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Tuesday, June 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from DXC Technology’s previous quarterly dividend of $0.18. DXC Technology’s payout ratio is 9.57%.
Several research analysts recently issued reports on the stock. ValuEngine raised shares of DXC Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 10th. Berenberg Bank started coverage on shares of DXC Technology in a research report on Wednesday, April 18th. They set a “hold” rating and a $100.00 price target on the stock. Citigroup raised their price target on shares of DXC Technology to $126.00 and gave the company a “top pick” rating in a research report on Thursday, April 12th. JPMorgan Chase & Co. raised their price target on shares of DXC Technology to $114.00 and gave the company an “overweight” rating in a research report on Thursday, April 5th. Finally, KeyCorp lifted their target price on shares of DXC Technology from $116.00 to $122.00 and gave the company an “overweight” rating in a research report on Monday, May 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. DXC Technology currently has an average rating of “Buy” and an average target price of $105.59.
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).
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