Patten Group Inc. Takes $320,000 Position in DXC Technology (DXC)

Patten Group Inc. acquired a new stake in DXC Technology (NYSE:DXC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,064 shares of the company’s stock, valued at approximately $320,000.

Several other large investors have also recently bought and sold shares of the company. Crestline Management LP acquired a new position in DXC Technology during the third quarter worth approximately $2,762,000. Janus Henderson Group PLC increased its position in DXC Technology by 27.4% during the third quarter. Janus Henderson Group PLC now owns 3,252,957 shares of the company’s stock worth $279,377,000 after purchasing an additional 699,026 shares during the last quarter. Jane Street Group LLC acquired a new position in DXC Technology during the third quarter worth approximately $339,000. Claar Advisors LLC increased its position in DXC Technology by 100.0% during the third quarter. Claar Advisors LLC now owns 80,000 shares of the company’s stock worth $6,870,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in DXC Technology by 74.8% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 112,783 shares of the company’s stock worth $9,684,000 after purchasing an additional 48,258 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Michael G. Nefkens sold 35,340 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $92.00, for a total value of $3,251,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Several brokerages recently commented on DXC. Cantor Fitzgerald upped their price target on shares of DXC Technology from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Cowen reaffirmed a “hold” rating and set a $85.00 price target on shares of DXC Technology in a research report on Thursday, October 12th. KeyCorp reaffirmed an “overweight” rating and set a $99.00 price target (up previously from $92.00) on shares of DXC Technology in a research report on Monday, October 9th. Zacks Investment Research raised shares of DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, October 10th. Finally, BMO Capital Markets upped their price target on shares of DXC Technology from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $99.88.

Shares of DXC Technology (NYSE DXC) opened at $95.77 on Tuesday. DXC Technology has a 52-week low of $67.76 and a 52-week high of $99.44. The stock has a market cap of $27,365.83, a price-to-earnings ratio of 17.50, a PEG ratio of 1.23 and a beta of 1.04. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Tuesday, November 7th. The company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.40. DXC Technology had a net margin of 1.88% and a return on equity of 17.83%. The company had revenue of $6.16 billion during the quarter, compared to analyst estimates of $6.07 billion. The business’s revenue was up 229.4% compared to the same quarter last year. research analysts forecast that DXC Technology will post 7.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, December 6th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Tuesday, December 5th. DXC Technology’s payout ratio is currently 122.03%.

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

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