DXC Technology (DXC) Stock Rating Reaffirmed by Cantor Fitzgerald
Cantor Fitzgerald reiterated their hold rating on shares of DXC Technology (NYSE:DXC) in a research report report published on Monday. Cantor Fitzgerald currently has a $70.00 price target on the stock.
“We maintain our Neutral rating and $70* PT. DXC announced plans to acquire LXFT (OW). We view the acquisition as a Win, Win”. DXC performed a Catch Up” acquisition. DXC acquires much needed Digital capabilities through LXFT, increasing DXC’s competitiveness in an area it had fallen behind. LXFT finds a larger partner to help it manage its way through challenges with its major customers and extend its reach. We note the acquisition does not initially have a significant impact on DXC’s results, so proof will be in the longer term execution. See pg. 2 for our proforma.”,” the firm’s analyst wrote.
A number of other research firms have also recently issued reports on DXC. Moffett Nathanson began coverage on DXC Technology in a research note on Thursday, October 4th. They issued a buy rating and a $95.00 target price on the stock. Zacks Investment Research cut DXC Technology from a buy rating to a hold rating in a research note on Tuesday, October 9th. ValuEngine cut DXC Technology from a hold rating to a sell rating in a research note on Wednesday, October 24th. BMO Capital Markets reiterated a buy rating on shares of DXC Technology in a research note on Wednesday, October 24th. Finally, Berenberg Bank cut their target price on DXC Technology to $80.00 and set a hold rating on the stock in a research note on Friday, November 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $92.31.
DXC Technology (NYSE:DXC) last posted its earnings results on Tuesday, November 6th. The company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.06. The company had revenue of $5.01 billion for the quarter, compared to analysts’ expectations of $5.30 billion. DXC Technology had a return on equity of 19.07% and a net margin of 8.15%. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.93 earnings per share. As a group, analysts predict that DXC Technology will post 8.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 5th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Tuesday, December 4th. DXC Technology’s dividend payout ratio is currently 9.57%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Wealth Partners Ltd. raised its position in DXC Technology by 3,925.0% in the third quarter. Strategic Wealth Partners Ltd. now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 314 shares in the last quarter. IMS Capital Management bought a new stake in DXC Technology in the third quarter worth about $36,000. ELM Advisors LLC bought a new stake in DXC Technology in the third quarter worth about $105,000. Truvestments Capital LLC bought a new stake in DXC Technology in the third quarter worth about $117,000. Finally, Legacy Financial Advisors Inc. raised its position in DXC Technology by 111.8% in the third quarter. Legacy Financial Advisors Inc. now owns 1,413 shares of the company’s stock worth $132,000 after acquiring an additional 746 shares in the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.
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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