Grisanti Capital Management LLC Acquires New Holdings in DXC Technology (DXC)

Grisanti Capital Management LLC acquired a new stake in DXC Technology (NYSE:DXC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 105,481 shares of the company’s stock, valued at approximately $10,010,000. DXC Technology comprises approximately 4.1% of Grisanti Capital Management LLC’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new stake in DXC Technology in the fourth quarter valued at about $100,000. Advisory Services Network LLC bought a new stake in shares of DXC Technology in the second quarter worth about $101,000. Calton & Associates Inc. bought a new stake in shares of DXC Technology in the fourth quarter worth about $112,000. Cerebellum GP LLC bought a new stake in shares of DXC Technology in the fourth quarter worth about $130,000. Finally, Citizens Financial Group Inc. RI increased its holdings in shares of DXC Technology by 68.2% in the third quarter. Citizens Financial Group Inc. RI now owns 2,172 shares of the company’s stock worth $187,000 after acquiring an additional 881 shares in the last quarter. Institutional investors and hedge funds own 84.73% of the company’s stock.

DXC Technology (NYSE:DXC) opened at $96.99 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $27,668.24, a PE ratio of 14.22, a P/E/G ratio of 1.23 and a beta of 1.04. DXC Technology has a fifty-two week low of $64.06 and a fifty-two week high of $102.95.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.99 by $0.16. The business had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.19 billion. DXC Technology had a return on equity of 20.06% and a net margin of 5.18%. DXC Technology’s revenue was up 222.7% on a year-over-year basis. analysts anticipate that DXC Technology will post 7.74 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 6th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.74%. DXC Technology’s payout ratio is presently 23.53%.

Several equities research analysts have issued reports on DXC shares. Evercore ISI started coverage on DXC Technology in a report on Tuesday, October 17th. They issued an “outperform” rating and a $115.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $104.00 price target (up from $86.00) on shares of DXC Technology in a report on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded DXC Technology from a “hold” rating to a “buy” rating and set a $102.00 price target for the company in a report on Friday, October 20th. Royal Bank of Canada increased their price target on DXC Technology from $87.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, November 8th. Finally, Citigroup increased their price target on DXC Technology to $107.00 in a report on Wednesday, November 8th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. DXC Technology has a consensus rating of “Buy” and a consensus target price of $102.94.

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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 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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