Elkfork Partners LLC purchased a new position in DXC Technology (NYSE:DXC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 116,368 shares of the company’s stock, valued at approximately $11,044,000.
Several other hedge funds also recently made changes to their positions in the company. Burke & Herbert Bank & Trust Co. bought a new stake in DXC Technology during the fourth quarter valued at approximately $259,000. Eqis Capital Management Inc. bought a new stake in DXC Technology during the fourth quarter valued at approximately $1,246,000. California Public Employees Retirement System grew its position in DXC Technology by 1.5% during the third quarter. California Public Employees Retirement System now owns 653,530 shares of the company’s stock valued at $56,125,000 after buying an additional 9,383 shares during the period. Commerzbank Aktiengesellschaft FI grew its position in DXC Technology by 10.2% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 57,334 shares of the company’s stock valued at $5,441,000 after buying an additional 5,302 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in DXC Technology by 1.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 572,639 shares of the company’s stock valued at $49,178,000 after buying an additional 6,234 shares during the period. Hedge funds and other institutional investors own 84.83% of the company’s stock.
DXC Technology (DXC) opened at $103.04 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.48. DXC Technology has a 1-year low of $67.76 and a 1-year high of $107.85. The firm has a market cap of $30,391.48, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Shareholders of record on Wednesday, March 28th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, March 27th. DXC Technology’s dividend payout ratio is currently 23.53%.
Several brokerages recently issued reports on DXC. ValuEngine upgraded shares of DXC Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 10th. BMO Capital Markets restated a “buy” rating on shares of DXC Technology in a research report on Friday, February 23rd. Cowen restated a “hold” rating and set a $96.00 target price on shares of DXC Technology in a research report on Wednesday, January 3rd. Deutsche Bank boosted their target price on shares of DXC Technology from $90.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, SunTrust Banks upgraded shares of DXC Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $103.33.
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DXC Technology 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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