DXC Technology (NYSE:DXC) Shares Down 9.4% – Should You Sell?

DXC Technology Company. (NYSE:DXC) shares traded down 9.4% during trading on Monday . The stock traded as low as $12.38 and last traded at $12.0970. 985,235 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,317,811 shares. The stock had previously closed at $13.35.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Stifel Nicolaus cut their price target on DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, October 31st. Wall Street Zen lowered DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Wolfe Research set a $13.00 price target on shares of DXC Technology and gave the company an “underperform” rating in a research report on Friday, January 30th. BMO Capital Markets upped their price objective on shares of DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Tuesday, February 3rd. Finally, Zacks Research raised shares of DXC Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, DXC Technology has an average rating of “Reduce” and an average target price of $14.71.

DXC Technology Stock Performance

The company’s 50 day moving average price is $14.60 and its 200-day moving average price is $13.99. The stock has a market cap of $2.01 billion, a P/E ratio of 5.09 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.35.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share 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 for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the firm earned $0.92 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that DXC Technology Company. will post 3.35 EPS for the current fiscal year.

Insider Buying and Selling

In other DXC Technology news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $15.15, for a total value of $37,875.00. Following the transaction, the senior vice president owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Raul J. Fernandez acquired 16,446 shares of DXC Technology stock in a transaction on Monday, February 2nd. The stock was acquired at an average price of $15.24 per share, with a total value of $250,637.04. Following the purchase, the chief executive officer directly owned 816,001 shares in the company, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On DXC Technology

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after acquiring an additional 1,227 shares during the period. Danske Bank A S increased its stake in shares of DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock worth $28,000 after purchasing an additional 1,400 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of DXC Technology by 116.0% during 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 during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of DXC Technology by 110.5% in the 4th 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 period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of DXC Technology by 13,258.8% in the 4th 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 period. 96.20% of the stock is owned by hedge funds and other institutional investors.

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.