DXC Technology (NYSE:DXC) Stock Gets Downgrade from Zacks Research

DXC Technology (NYSE:DXC) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts also recently commented on DXC. JPMorgan Chase & Co. lifted their target price on shares of DXC Technology from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Friday, October 30th. Susquehanna upped their price target on shares of DXC Technology from $10.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Morgan Stanley raised their price target on shares of DXC Technology from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Royal Bank Of Canada cut their price target on shares of DXC Technology from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Friday, July 31st. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $12.06.

DXC Technology Price Performance

DXC Technology stock opened at $13.84 on Monday. The stock has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $11.58. DXC Technology has a 12 month low of $7.90 and a 12 month high of $16.38. The company has a market capitalization of $2.15 billion, a PE ratio of 21.28 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. DXC Technology had a return on equity of 14.35% and a net margin of 0.91%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business posted $0.84 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts expect that DXC Technology will post 2.37 EPS for the current year.

Hedge Funds Weigh In On DXC Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in DXC. Bessemer Group Inc. boosted its holdings in shares of DXC Technology by 61.1% during the 1st quarter. Bessemer Group Inc. now owns 3,680 shares of the company’s stock worth $47,000 after buying an additional 1,395 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of DXC Technology by 289.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,396 shares of the company’s stock valued at $48,000 after acquiring an additional 3,266 shares in the last quarter. Covestor Ltd increased its stake in shares of DXC Technology by 31.2% in the 2nd quarter. Covestor Ltd now owns 6,603 shares of the company’s stock valued at $58,000 after acquiring an additional 1,570 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of DXC Technology by 47.4% in the 2nd quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock valued at $66,000 after acquiring an additional 2,404 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of DXC Technology by 77.8% during the 3rd quarter. Parallel Advisors LLC now owns 9,092 shares of the company’s stock valued at $98,000 after acquiring an additional 3,979 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

About DXC Technology

DXC Technology (NYSE: DXC) is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its services include consulting, application development and management, cloud migration and operations, cybersecurity, data and analytics, enterprise technology management, and workplace and end-user services.

The company serves businesses and government organizations across a range of industries, including financial services, healthcare, insurance, manufacturing, aerospace and defense, automotive, retail, and the public sector.