DXC Technology (NYSE:DXC) Stock Rating Upgraded by Zacks Research

DXC Technology (NYSE:DXC) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

DXC has been the subject of several other reports. BMO Capital Markets cut their price objective on DXC Technology from $17.00 to $10.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Weiss Ratings downgraded DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of DXC Technology in a research note on Friday, June 12th. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, TD Cowen reduced their price objective on DXC Technology from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Thursday, July 9th. Seven equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, DXC Technology presently has a consensus rating of “Reduce” and an average target price of $12.25.

DXC Technology Stock Down 5.7%

Shares of NYSE DXC opened at $9.15 on Monday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 152.58 and a beta of 0.82. The company’s 50-day simple moving average is $9.25 and its 200-day simple moving average is $11.85. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94. DXC Technology has a 52-week low of $7.90 and a 52-week high of $15.68.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, topping 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 company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. Equities analysts predict that DXC Technology will post 2.61 EPS for the current fiscal year.

Insider Transactions at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez acquired 28,051 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $8.90 per share, with a total value of $249,653.90. Following the purchase, the chief executive officer owned 844,052 shares in the company, valued at approximately $7,512,062.80. The trade was a 3.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.13% of the company’s stock.

Institutional Trading of DXC Technology

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in shares of DXC Technology by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company’s stock worth $126,068,000 after purchasing an additional 258,819 shares during the last quarter. FIL Ltd increased its holdings in shares of DXC Technology by 0.7% in the fourth quarter. FIL Ltd now owns 6,383,750 shares of the company’s stock valued at $93,522,000 after purchasing an additional 45,015 shares during the last quarter. State Street Corp increased 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 valued at $97,581,000 after purchasing an additional 128,916 shares during the last quarter. AQR Capital Management LLC increased its holdings 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 valued at $69,599,000 after purchasing an additional 287,441 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in DXC Technology by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,547,205 shares of the company’s stock worth $37,317,000 after buying an additional 98,479 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.