DXC Technology Company. (DXC) Upgraded to “Buy” at Zacks Investment Research
DXC Technology Company. (NYSE:DXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The firm currently has a $102.00 price objective on the stock. Zacks Investment Research‘s price target points to a potential upside of 12.05% from the stock’s current price.
According to Zacks, “DXC Technology is a result of merger between CSC and Enterprise Services Division of HPE. We believe that the merger has opened new avenues of growth for the combined company. Recently, DXC expanded its ties with VMware. We believe that the partnership will enable DXC to offer an efficient and improved hybrid IT environment to drive performance. Going ahead, following the footsteps of Computer Sciences, DXC Technology may be seen making strategic acquisitions to strengthen its portfolio, which should drive growth over the long run. Notably, the company has outperformed the industry over the past one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability. Additionally, a challenging macroeconomic situation and uncertain IT spending environment remain other headwinds.”
Several other equities analysts have also weighed in on the stock. BMO Capital Markets lifted their target price on shares of DXC Technology Company. from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Morgan Stanley raised shares of DXC Technology Company. from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $68.00 to $85.00 in a report on Tuesday, July 4th. KeyCorp raised shares of DXC Technology Company. from a “sector weight” rating to an “overweight” rating and set a $93.00 target price for the company in a report on Friday, July 21st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $87.00 target price on shares of DXC Technology Company. in a report on Friday, July 7th. Finally, Bank of America Corporation began coverage on shares of DXC Technology Company. in a report on Tuesday, September 12th. They set a “buy” rating and a $101.00 target price for the company. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. DXC Technology Company. presently has a consensus rating of “Buy” and an average target price of $96.38.
DXC Technology Company. (DXC) traded up 0.57% during trading on Friday, hitting $91.55. 397,905 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $86.41 and its 200 day moving average price is $80.30. DXC Technology Company. has a 12-month low of $51.68 and a 12-month high of $93.40. The firm has a market cap of $26.06 billion, a price-to-earnings ratio of 288.80 and a beta of 1.04.
DXC Technology Company. (NYSE:DXC) last posted its earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.34. The firm had revenue of $5.91 billion during the quarter, compared to analyst estimates of $5.95 billion. DXC Technology Company. had a net margin of 0.49% and a return on equity of 17.51%. Equities analysts forecast that DXC Technology Company. will post $6.83 earnings per share for the current fiscal year.
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In other DXC Technology Company. news, EVP Michael G. Nefkens sold 35,340 shares of DXC Technology Company. stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $92.00, for a total transaction of $3,251,280.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Paul N. Saleh sold 40,460 shares of DXC Technology Company. stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $82.54, for a total transaction of $3,339,568.40. Following the sale, the chief financial officer now directly owns 136,384 shares in the company, valued at approximately $11,257,135.36. The disclosure for this sale can be found here. Insiders sold a total of 285,050 shares of company stock worth $23,659,195 in the last three months. 1.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in DXC Technology Company. by 30,928.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock worth $1,593,568,000 after purchasing an additional 20,704,283 shares during the last quarter. BlackRock Inc. acquired a new stake in DXC Technology Company. during the 2nd quarter worth $1,368,006,000. Dodge & Cox acquired a new stake in DXC Technology Company. during the 2nd quarter worth $1,032,608,000. Boston Partners acquired a new stake in DXC Technology Company. during the 2nd quarter worth $932,573,000. Finally, State Street Corp acquired a new stake in DXC Technology Company. during the 2nd quarter worth $898,855,000. 85.05% of the stock is currently owned by institutional investors.
DXC Technology Company. 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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