DXC Technology (NYSE:DXC) Upgraded at Zacks Research

DXC Technology (NYSE:DXC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the company. Susquehanna set a $14.00 price objective on DXC Technology and gave the stock a “neutral” rating in a research note on Friday, October 31st. Stifel Nicolaus reduced their price target on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Friday, October 31st. BMO Capital Markets upped their price target on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Wolfe Research set a $13.00 price objective on shares of DXC Technology and gave the stock an “underperform” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $14.71.

DXC Technology Stock Down 11.9%

DXC opened at $13.47 on Monday. The company has a market capitalization of $2.29 billion, a PE ratio of 5.78 and a beta of 1.07. The firm has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $14.00. The company has a quick ratio of 1.09, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. DXC Technology has a 52 week low of $11.82 and a 52 week high of $23.75.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, January 29th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.92 earnings per share. Analysts forecast that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $15.15, for a total transaction of $37,875.00. Following the completion of the transaction, the senior vice president directly owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. The trade was a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Raul J. Fernandez purchased 16,446 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the acquisition, the chief executive officer directly owned 816,001 shares in the company, valued at $12,435,855.24. The trade was a 2.06% increase in their position. The SEC filing for this purchase provides additional information. 0.61% of the stock is owned by company insiders.

Institutional Trading of DXC Technology

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of DXC Technology by 3.5% during the third quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock valued at $319,654,000 after buying an additional 800,973 shares during the last quarter. American Century Companies Inc. grew its position in DXC Technology by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 7,591,818 shares of the company’s stock valued at $103,476,000 after acquiring an additional 596,475 shares during the last quarter. State Street Corp increased its stake in DXC Technology by 2.1% in the second quarter. State Street Corp now owns 6,381,982 shares of the company’s stock worth $97,581,000 after purchasing an additional 128,916 shares during the period. AQR Capital Management LLC lifted its position in shares of DXC Technology by 13.5% during the third quarter. AQR Capital Management LLC now owns 4,463,367 shares of the company’s stock worth $60,836,000 after purchasing an additional 529,394 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of DXC Technology by 131.2% during the third quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after purchasing an additional 1,161,879 shares during the period. Institutional investors own 96.20% of the company’s stock.

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.