DXC Technology (NYSE:DXC) Hits New 52-Week Low – Should You Sell?

DXC Technology Company. (NYSE:DXC)’s share price hit a new 52-week low on Wednesday . The company traded as low as $11.61 and last traded at $11.9850, with a volume of 181908 shares. The stock had previously closed at $11.92.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DXC shares. Stifel Nicolaus lowered their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. 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. Zacks Research raised shares of DXC Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, BMO Capital Markets lifted 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. One 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 stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $14.71.

DXC Technology Price Performance

The business’s 50-day simple moving average is $14.34 and its 200 day simple moving average is $13.95. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.13 billion, a P/E ratio of 5.39 and a beta of 1.07.

DXC Technology (NYSE:DXC) last announced its earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.83 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.92 earnings per share. As a group, sell-side analysts anticipate that DXC Technology Company. will post 3.35 EPS for the current year.

Insider Transactions at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez purchased 16,446 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was 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. The trade was a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $15.15, for a total transaction of $37,875.00. Following the completion of the transaction, the senior vice president directly owned 88,605 shares in the company, valued at $1,342,365.75. This represents a 2.74% decrease in their position. The SEC filing for this sale provides additional information. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On DXC Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of DXC Technology by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock worth $319,654,000 after acquiring an additional 800,973 shares during the last quarter. American Century Companies Inc. boosted its position in shares of DXC Technology by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 7,591,818 shares of the company’s stock valued at $103,476,000 after purchasing an additional 596,475 shares during the period. FIL Ltd raised its holdings in DXC Technology by 0.7% during the 4th quarter. FIL Ltd now owns 6,383,750 shares of the company’s stock worth $93,522,000 after buying an additional 45,015 shares during the period. State Street Corp boosted its holdings in shares of DXC Technology by 2.1% in the second quarter. State Street Corp now owns 6,381,982 shares of the company’s stock worth $97,581,000 after buying an additional 128,916 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of DXC Technology by 6.4% in the fourth 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 in the last quarter. 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.