DXC Technology (NYSE:DXC) Downgraded by Wolfe Research to “Strong Sell”

Wolfe Research downgraded shares of DXC Technology (NYSE:DXC) from a strong-buy rating to a strong sell rating in a research note released on Thursday,Zacks.com reports.

A number of other research firms have also recently commented on DXC. Susquehanna set a $14.00 price objective on DXC Technology and gave the company a “neutral” rating in a research report on Friday, October 31st. Stifel Nicolaus dropped 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 note on Friday, October 31st. Weiss Ratings restated a “sell (d)” rating on shares of DXC Technology in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of DXC Technology from a “hold” rating to a “buy” rating in a research report on Sunday, November 9th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $15.00.

DXC Technology Trading Up 2.4%

Shares of DXC Technology stock opened at $15.42 on Thursday. The firm has a 50-day simple moving average of $14.08 and a two-hundred day simple moving average of $14.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.09 and a current ratio of 1.09. DXC Technology has a fifty-two week low of $11.82 and a fifty-two week high of $23.75. The company has a market cap of $2.68 billion, a P/E ratio of 7.59 and a beta of 1.04.

DXC Technology (NYSE:DXC) last posted its earnings results on Friday, October 31st. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.13. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.17 billion. DXC Technology had a return on equity of 17.83% and a net margin of 2.93%.The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.93 EPS. As a group, equities analysts predict that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Insider Transactions at DXC Technology

In other DXC Technology 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 transaction, the senior vice president directly owned 88,605 shares of the company’s stock, valued at $1,342,365.75. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of DXC Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock valued at $27,000 after acquiring an additional 1,227 shares during the last quarter. Smartleaf Asset Management LLC raised its position in DXC Technology by 38.2% in the third quarter. Smartleaf Asset Management LLC now owns 2,814 shares of the company’s stock valued at $38,000 after purchasing an additional 778 shares during the period. Headlands Technologies LLC purchased a new stake in DXC Technology in the second quarter valued at $39,000. Rothschild Investment LLC lifted its stake in shares of DXC Technology by 609.8% in the 3rd quarter. Rothschild Investment LLC now owns 2,981 shares of the company’s stock valued at $41,000 after purchasing an additional 2,561 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of DXC Technology by 187.3% during the 2nd quarter. Signaturefd LLC now owns 3,054 shares of the company’s stock worth $47,000 after purchasing an additional 1,991 shares during the period. Institutional investors and hedge funds 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.