Franklin Resources Cuts DXC Tech Stake to 5.4%

TL;DR

**Franklin Resources just trimmed its DXC stake, signaling a potential bearish shift.**

AI Summary

Franklin Resources Inc. filed an amended Schedule 13G/A on February 6, 2024, indicating a change in its ownership of DXC Technology Co. As of December 31, 2023, Franklin Resources Inc. reported beneficial ownership of 10,767,100 shares of DXC Technology Co. common stock, representing 5.4% of the company's outstanding shares. This is a decrease from their previous filing, where they reported owning 12,058,800 shares, or 6.0% of the company. This matters to investors because it shows a significant institutional investor has reduced its stake, which could signal a less bullish outlook on DXC Technology Co.'s future performance.

Why It Matters

A major institutional investor, Franklin Resources Inc., has reduced its holdings in DXC Technology Co., which could be interpreted as a lack of confidence in the company's short-term prospects.

Risk Assessment

Risk Level: medium — A large institutional investor reducing its stake can indicate potential concerns about the company's future performance, increasing investment risk.

Analyst Insight

Investors should monitor DXC Technology Co.'s upcoming earnings reports and news for any fundamental reasons behind Franklin Resources Inc.'s reduced stake, and consider if this signals a broader trend among institutional investors.

Key Numbers

• 10,767,100 — shares beneficially owned (Franklin Resources Inc.'s current holding in DXC Technology Co.)
• 5.4% — percentage of class outstanding (Franklin Resources Inc.'s current ownership percentage of DXC Technology Co.)
• 12,058,800 — previous shares beneficially owned (Franklin Resources Inc.'s prior holding in DXC Technology Co. (from previous filing))
• 6.0% — previous percentage of class outstanding (Franklin Resources Inc.'s prior ownership percentage of DXC Technology Co. (from previous filing))

Key Players & Entities

• Franklin Resources Inc. (company) — the reporting person who filed the SC 13G/A
• DXC Technology Co. (company) — the issuer of the securities
• December 31, 2023 (date) — the date of the event requiring the filing
• February 6, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• DXC Technology Co.'s stock price may experience downward pressure due to the reduced institutional ownership. (DXC Technology Co.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — PANY (Name of Issuer) Common Stock, $0.01 par value per share (Title of Class o

Filing Documents

• dxct23a2.htm (SC 13G/A) — 175KB
• 0000038777-24-000012.txt ( ) — 176KB

If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c),

Item 3. If this statement is filed pursuant to 240.13d1(b) or 240.13d2(b) or (c), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a8). (e) [ ] An investment adviser in accordance with 240.13d1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d1(b) (1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d1(b) (1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a3); (j) [ ] A nonU.S. institution in accordance with 240.13d1(b)(ii)(J); (k) [ ] Group, in accordance with 240.13d1(b)(1)(ii)(K). If filing as a nonU.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution:

Ownership

Item 4. Ownership The securities reported herein are beneficially owned by one or more open or closed end investment companies or other managed accounts that are investment management clients of investment managers that are direct and indirect subsidiaries (each, an "Investment Management Subsidiary" and, collectively, the "Investment Management Subsidiaries") of Franklin Resources Inc. ("FRI"), including the Investment Management Subsidiaries listed in this Item 4. When an investment management contract (including a sub advisory agreement) delegates to an Investment Management Subsidiary investment discretion or voting power over the securities held in the investment advisory accounts that are investment discretion or voting authority, as the case may be, unless the agreement specifies otherwise. Accordingly, each Investment Management Subsidiary reports on Schedule 13G that it has sole investment discretion and voting authority over the securities covered by any such investment management agreement, unless otherwise noted in this Item 4. As a result, for purposes of Rule 13d3 under the Act, the Investment Management Subsidiaries listed in this Item 4 may be deemed to be the beneficial owners of the securities reported in this Schedule 13G. Beneficial ownership by Investment Management Subsidiaries and other FRI affiliates is being reported in conformity with the guidelines articulated by the SEC staff in Release No. 3439538 (January 12, 1998) (the "1998 Release") relating to organizations, such as FRI, where related entities exercise voting and investment powers over the securities being reported independently from each other. The voting and investment powers held by each of FRI's affiliates whose ownership of securities is disaggregated from that of FRI in accordance with the 1998 Release ("FRI Disaggregated Affiliates") are exer

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person The clients of the Investment Management Subsidiaries, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or power to direct the receipt of dividends from, and the proceeds from the sale of, the securities reported herein.

Identification and Classification of the Subsidiary Which Acquired the

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Attached Exhibit C

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable CUSIP NO. 23355L106 13G Page 9 of 13

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a11. Exhibits: Exhibit A Joint Filing Agreement Exhibit B Limited Powers of Attorney for Section 13 Reporting Obligations Exhibit C Item 7 Identification and Classification of Subsidiaries SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 22, 2024 Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Assistant Secretary of Franklin Resources, Inc. AttorneyinFact for Charles B. Johnson pursuant to Power of Attorney attached to this Schedule 13G AttorneyinFact for Rupert H. Johnson, Jr. pursuant to Power of Attorney attached to this Schedule 13G CUSIP NO. 23355L106 13G Page 10 of 13 EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d1(k) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other of the attached IN WITNESS WHEREOF, the undersigned have executed this agreement on January 22, 2024. Franklin Resources, Inc. Charles B. Johnson Rupert H. Johnson, Jr. By: /s/VIRGINIA E. ROSAS Virginia E. Rosas Assistant Secretary of Franklin Resources, I

View Full Filing

View this SC 13G/A filing on SEC EDGAR