DXC Technology (NYSE:DXC) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of DXC Technology (NYSE:DXC) from a strong-buy rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

DXC has been the topic of a number of other reports. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. BMO Capital Markets raised their price objective on DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Finally, Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the stock an “underperform” rating in a report on Friday, January 30th. Seven equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $14.71.

DXC Technology Stock Up 6.7%

Shares of DXC traded up $0.83 during mid-day trading on Tuesday, hitting $13.31. 1,882,055 shares of the company traded hands, compared to its average volume of 2,430,932. The company has a market capitalization of $2.26 billion, a PE ratio of 5.71 and a beta of 1.10. DXC Technology has a 1-year low of $11.61 and a 1-year high of $18.90. The business has a 50 day moving average of $14.12 and a 200 day moving average of $13.92. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91.

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

Insiders Place Their Bets

In related news, CEO Raul J. Fernandez purchased 16,446 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were bought at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the acquisition, the chief executive officer directly owned 816,001 shares in the company, valued at $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Christopher Anthony Voci sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $15.15, for a total transaction of $37,875.00. Following the sale, the senior vice president owned 88,605 shares in the company, valued at $1,342,365.75. The trade was a 2.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On DXC Technology

A number of institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its stake in DXC Technology by 97.0% in the 2nd quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after purchasing an additional 1,936,726 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after buying an additional 1,505,069 shares in the last quarter. UBS Group AG grew its stake in DXC Technology by 131.2% in the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after acquiring an additional 1,161,879 shares during the last quarter. Norges Bank purchased a new position in DXC Technology during the 2nd quarter valued at about $16,589,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of DXC Technology by 1,156.1% in the second quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after purchasing an additional 1,042,409 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

About DXC Technology

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.