BlackRock Inc. Invests $1.37 Billion in DXC Technology Company. (DXC) Stock

BlackRock Inc. acquired a new stake in shares of DXC Technology Company. (NYSE:DXC) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,831,183 shares of the company’s stock, valued at approximately $1,368,006,000. BlackRock Inc. owned about 12.62% of DXC Technology Company. as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Westside Investment Management Inc. purchased a new stake in DXC Technology Company. during the 1st quarter valued at about $105,000. Hanson McClain Inc. purchased a new stake in DXC Technology Company. during the 2nd quarter valued at about $105,000. Cribstone Capital Management LLC grew its position in DXC Technology Company. by 4.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 1,408 shares of the company’s stock valued at $108,000 after purchasing an additional 63 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in DXC Technology Company. during the 2nd quarter valued at about $109,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in DXC Technology Company. during the 2nd quarter valued at about $128,000. 85.05% of the stock is currently owned by institutional investors.

A number of brokerages have recently issued reports on DXC. TheStreet raised shares of DXC Technology Company. from a “c” rating to a “b” rating in a report on Tuesday, August 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $87.00 price target on shares of DXC Technology Company. in a report on Friday, July 7th. Jefferies Group LLC raised their price target on shares of DXC Technology Company. from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 24th. KeyCorp reaffirmed a “buy” rating and set a $92.00 price target on shares of DXC Technology Company. in a report on Friday, September 8th. Finally, Bank of America Corporation began coverage on shares of DXC Technology Company. in a report on Tuesday, September 12th. They set a “buy” rating and a $101.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.57.

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In other news, CFO Paul N. Saleh sold 80,922 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $84.01, for a total transaction of $6,798,257.22. Following the sale, the chief financial officer now owns 217,211 shares in the company, valued at $18,247,896.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael G. Nefkens sold 128,328 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $80.03, for a total value of $10,270,089.84. Following the sale, the executive vice president now owns 25,447 shares in the company, valued at approximately $2,036,523.41. The disclosure for this sale can be found here. Insiders have sold 359,666 shares of company stock worth $29,091,539 in the last 90 days. Insiders own 1.30% of the company’s stock.

Shares of DXC Technology Company. (NYSE DXC) opened at 85.07 on Friday. DXC Technology Company. has a one year low of $49.12 and a one year high of $86.29. The stock has a market cap of $24.22 billion, a P/E ratio of 268.36 and a beta of 1.03. The stock’s 50 day moving average is $83.08 and its 200-day moving average is $77.13.

DXC Technology Company. (NYSE:DXC) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.34. DXC Technology Company. had a return on equity of 17.51% and a net margin of 0.49%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. On average, equities analysts forecast that DXC Technology Company. will post $6.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.85%. DXC Technology Company.’s payout ratio is -378.95%.

About DXC Technology Company.

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

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