DXC Technology (NYSE:DXC) Reaches New 12-Month Low – Time to Sell?

DXC Technology Company. (NYSE:DXC) reached a new 52-week low on Monday . The stock traded as low as $11.60 and last traded at $11.64, with a volume of 1030579 shares trading hands. The stock had previously closed at $11.83.

Analysts Set New Price Targets

DXC has been the subject of a number of research reports. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an “underperform” rating in a research report on Friday, January 30th. 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 report on Tuesday, February 3rd. Zacks Research cut shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of DXC Technology from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Seven analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, DXC Technology presently has an average rating of “Reduce” and an average price target of $14.71.

DXC Technology Stock Performance

The business has a 50-day simple moving average of $13.79 and a 200 day simple moving average of $13.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $1.98 billion, a PE ratio of 4.99 and a beta of 1.10.

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

Insider Activity

In other news, CEO Raul J. Fernandez acquired 16,446 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were purchased at an average cost of $15.24 per share, for a total transaction of $250,637.04. Following the transaction, the chief executive officer directly owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXC Technology

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its holdings in DXC Technology by 97.0% during the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after acquiring an additional 1,936,726 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of DXC Technology by 2,316.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after acquiring an additional 1,505,069 shares during the period. UBS Group AG grew its position 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 worth $27,906,000 after purchasing an additional 1,161,879 shares in the last quarter. Norges Bank purchased a new stake in shares of DXC Technology during the second quarter worth about $16,589,000. Finally, Qube Research & Technologies Ltd raised its stake in DXC Technology by 1,156.1% during the 2nd 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 during the period. 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.