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

DXC Technology (NYSE:DXC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research firms have also issued reports on DXC. BMO Capital Markets lifted their target price on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Wolfe Research set a $13.00 price target on DXC Technology and gave the stock an “underperform” rating in a research note on Friday, January 30th. Finally, Zacks Research lowered DXC Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Stock Up 0.1%

NYSE:DXC opened at $11.83 on Friday. The firm’s 50-day moving average price is $13.19 and its 200-day moving average price is $13.66. The company has a market capitalization of $2.01 billion, a PE ratio of 5.08 and a beta of 1.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35. DXC Technology has a 1-year low of $11.54 and a 1-year high of $17.68.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results 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 net margin of 3.34% and a return on equity of 17.56%. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the company posted $0.92 EPS. DXC Technology’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that DXC Technology will post 3.35 EPS for the current fiscal year.

Insider Transactions at DXC Technology

In other news, CEO Raul J. Fernandez bought 16,446 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was acquired at an average cost of $15.24 per share, with a total value of $250,637.04. Following the completion of the acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This represents a 2.06% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DXC Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in DXC Technology by 240.6% in the 2nd 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 in the last quarter. Danske Bank A S boosted its stake in DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock valued at $28,000 after purchasing an additional 1,400 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of DXC Technology by 116.0% in the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after purchasing an additional 1,129 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of DXC Technology by 110.5% in the fourth quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after purchasing an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of DXC Technology by 13,258.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock worth $33,000 after purchasing an additional 2,254 shares during the last quarter. 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.