AQR Capital Management LLC Sells 908,191 Shares of DXC Technology Co (NYSE:DXC)

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AQR Capital Management LLC cut its stake in DXC Technology Co (NYSE:DXC) by 22.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,073,346 shares of the company’s stock after selling 908,191 shares during the period. AQR Capital Management LLC owned approximately 1.17% of DXC Technology worth $167,590,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Commerce Bank lifted its holdings in DXC Technology by 1.7% during the 1st quarter. Commerce Bank now owns 10,287 shares of the company’s stock valued at $661,000 after purchasing an additional 172 shares during the last quarter. AGF Investments LLC lifted its stake in DXC Technology by 0.8% in the second quarter. AGF Investments LLC now owns 22,639 shares of the company’s stock valued at $1,249,000 after buying an additional 189 shares in the last quarter. Keel Point LLC lifted its position in shares of DXC Technology by 5.5% in the second quarter. Keel Point LLC now owns 3,912 shares of the company’s stock worth $216,000 after purchasing an additional 205 shares in the last quarter. Patten Group Inc. lifted its position in shares of DXC Technology by 2.0% in the first quarter. Patten Group Inc. now owns 11,124 shares of the company’s stock worth $715,000 after purchasing an additional 216 shares in the last quarter. Finally, Wetherby Asset Management Inc. lifted its position in shares of DXC Technology by 4.8% in the first quarter. Wetherby Asset Management Inc. now owns 5,202 shares of the company’s stock worth $334,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 86.84% of the company’s stock.

NYSE:DXC traded up $1.44 on Friday, reaching $28.03. 3,863,735 shares of the stock traded hands, compared to its average volume of 6,495,288. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 3.36, a price-to-earnings-growth ratio of 0.92 and a beta of 1.92. DXC Technology Co has a 1-year low of $26.02 and a 1-year high of $90.35. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.80. The company’s 50 day moving average is $31.41 and its 200-day moving average is $49.41.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.71 by $0.03. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.86 billion. DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. The company’s quarterly revenue was down 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. On average, equities research analysts forecast that DXC Technology Co will post 7.3 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, September 4th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Tuesday, September 3rd. DXC Technology’s payout ratio is currently 10.07%.

In other DXC Technology news, insider John M. Lawrie purchased 4,500 shares of DXC Technology stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $53.72 per share, with a total value of $241,740.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders purchased 22,066 shares of company stock valued at $1,153,043. 0.81% of the stock is currently owned by insiders.

Several analysts have issued reports on DXC shares. Stifel Nicolaus dropped their price target on shares of DXC Technology from $46.00 to $37.00 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. Evercore ISI reaffirmed a “hold” rating on shares of DXC Technology in a research report on Monday, September 16th. Zacks Investment Research cut shares of DXC Technology from a “hold” rating to a “sell” rating and set a $36.00 target price for the company. in a report on Tuesday, August 13th. Cfra reissued a “hold” rating on shares of DXC Technology in a report on Thursday, September 12th. Finally, Cowen dropped their price objective on shares of DXC Technology from $83.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. DXC Technology presently has an average rating of “Hold” and an average price target of $57.38.

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 three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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

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