Lazard Asset Management LLC Has $11.92 Million Stake in DXC Technology Co (NYSE:DXC)

Lazard Asset Management LLC reduced its stake in shares of DXC Technology Co (NYSE:DXC) by 86.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 185,319 shares of the company’s stock after selling 1,205,113 shares during the quarter. Lazard Asset Management LLC’s holdings in DXC Technology were worth $11,917,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DXC. Benjamin F. Edwards & Company Inc. grew its position in shares of DXC Technology by 148.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 585 shares of the company’s stock worth $31,000 after buying an additional 350 shares during the period. Cribstone Capital Management LLC grew its position in shares of DXC Technology by 187.1% during the 1st quarter. Cribstone Capital Management LLC now owns 491 shares of the company’s stock worth $32,000 after buying an additional 320 shares during the period. Bruderman Asset Management LLC grew its position in shares of DXC Technology by 1,365.1% during the 4th quarter. Bruderman Asset Management LLC now owns 630 shares of the company’s stock worth $34,000 after buying an additional 587 shares during the period. Rational Advisors LLC grew its position in shares of DXC Technology by 203.5% during the 4th quarter. Rational Advisors LLC now owns 695 shares of the company’s stock worth $37,000 after buying an additional 466 shares during the period. Finally, Truvestments Capital LLC acquired a new position in shares of DXC Technology during the 1st quarter worth about $37,000. Institutional investors own 85.36% of the company’s stock.

Shares of DXC opened at $51.72 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.97 and a quick ratio of 1.00. DXC Technology Co has a 52-week low of $46.46 and a 52-week high of $96.75. The company has a market capitalization of $13.80 billion, a P/E ratio of 6.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.70.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Thursday, May 23rd. The company reported $2.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.12. DXC Technology had a return on equity of 20.08% and a net margin of 6.06%. The business had revenue of $5.28 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period in the previous year, the firm earned $2.28 EPS. DXC Technology’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts forecast that DXC Technology Co will post 8.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th will be given a $0.21 dividend. The ex-dividend date is Tuesday, June 4th. This is a positive change from DXC Technology’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. DXC Technology’s payout ratio is currently 10.07%.

In related news, EVP Joanne Mason sold 1,768 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $52.29, for a total value of $92,448.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by insiders.

Several research firms have recently issued reports on DXC. Wells Fargo & Co decreased their target price on DXC Technology from $72.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Zacks Investment Research lowered DXC Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Bank of America decreased their target price on DXC Technology from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Friday, May 31st. BMO Capital Markets decreased their target price on DXC Technology from $88.00 to $70.00 and set an “outperform” rating for the company in a research report on Tuesday, May 21st. Finally, Goldman Sachs Group lowered DXC Technology from a “conviction-buy” rating to a “buy” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $80.92.

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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).

Further Reading: What Factors Can Affect Return on Equity?

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

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