DXC Technology (NYSE:DXC) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of DXC Technology (NYSE:DXC) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other analysts have also issued reports on the stock. Wolfe Research set a $13.00 price target on shares of DXC Technology and gave the stock an “underperform” rating in a research report on Friday, January 30th. BMO Capital Markets boosted their price objective 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. Finally, Zacks Research cut DXC Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 3rd. Seven research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $14.71.

DXC Technology Stock Down 3.0%

DXC stock opened at $11.83 on Friday. DXC Technology has a 52 week low of $11.54 and a 52 week high of $17.68. The business has a 50-day simple moving average of $13.19 and a 200 day simple moving average of $13.67. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a market cap of $2.01 billion, a PE ratio of 5.08 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, topping analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. Sell-side analysts anticipate that DXC Technology will post 3.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Raul J. Fernandez purchased 16,446 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of $15.24 per share, with a total value of $250,637.04. Following the acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at $12,435,855.24. This trade represents a 2.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Trading of DXC Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in DXC Technology by 156.3% in the first quarter. Royal Bank of Canada now owns 99,930 shares of the company’s stock valued at $1,703,000 after purchasing an additional 60,935 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in DXC Technology by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock valued at $21,134,000 after buying an additional 49,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DXC Technology by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 735,597 shares of the company’s stock valued at $12,542,000 after buying an additional 34,544 shares during the last quarter. Creative Planning boosted its position in DXC Technology by 83.9% during the 2nd quarter. Creative Planning now owns 21,863 shares of the company’s stock worth $334,000 after buying an additional 9,972 shares during the period. Finally, Elo Mutual Pension Insurance Co acquired a new stake in DXC Technology during the 2nd quarter worth approximately $227,000. 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.