DXC Technology (NYSE:DXC) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of DXC Technology (NYSE:DXC) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Weiss Ratings lowered DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Morgan Stanley dropped their price target on DXC Technology from $15.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 14th. Royal Bank Of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of DXC Technology in a report on Friday, June 12th. BMO Capital Markets decreased their price objective on shares of DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Seven equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $12.25.

DXC Technology Stock Performance

DXC Technology stock opened at $9.15 on Monday. The firm’s 50 day simple moving average is $9.25 and its 200 day simple moving average is $11.85. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.50 billion, a PE ratio of 152.58 and a beta of 0.82. DXC Technology has a 1-year low of $7.90 and a 1-year high of $15.68.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.17 billion. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. As a group, analysts expect that DXC Technology will post 2.61 earnings per share for the current fiscal year.

Insider Transactions at DXC Technology

In related news, CEO Raul J. Fernandez purchased 28,051 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $8.90 per share, with a total value of $249,653.90. Following the purchase, the chief executive officer directly owned 844,052 shares of the company’s stock, valued at approximately $7,512,062.80. This trade represents a 3.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 1.13% of the stock is currently owned by insiders.

Institutional Trading of DXC Technology

A number of institutional investors have recently made changes to their positions in DXC. Dimensional Fund Advisors LP increased its stake in shares of DXC Technology by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company’s stock worth $126,068,000 after buying an additional 258,819 shares during the period. FIL Ltd boosted its position in DXC Technology by 0.7% during the 4th quarter. FIL Ltd now owns 6,383,750 shares of the company’s stock valued at $93,522,000 after buying an additional 45,015 shares during the period. State Street Corp grew its holdings in DXC Technology by 2.1% in the 2nd quarter. State Street Corp now owns 6,381,982 shares of the company’s stock worth $97,581,000 after acquiring an additional 128,916 shares during the last quarter. AQR Capital Management LLC grew its holdings in DXC Technology by 6.4% in the 4th quarter. AQR Capital Management LLC now owns 4,750,808 shares of the company’s stock worth $69,599,000 after acquiring an additional 287,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of DXC Technology by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,547,205 shares of the company’s stock valued at $37,317,000 after acquiring an additional 98,479 shares during the period. Hedge funds and other 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.