DXC Technology (NYSE:DXC) Reaches New 12-Month Low – Time to Sell?

Shares of DXC Technology Company. (NYSE:DXC) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $11.60 and last traded at $11.64, with a volume of 1030579 shares. The stock had previously closed at $11.83.

Analyst Ratings Changes

Several research firms have weighed in on DXC. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an “underperform” rating in a research report on Friday, January 30th. Wall Street Zen upgraded DXC Technology from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. BMO Capital Markets upped their price target on DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research downgraded DXC Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, DXC Technology presently has an average rating of “Reduce” and an average target price of $14.71.

DXC Technology Trading Down 1.5%

The firm’s 50 day moving average price is $13.79 and its 200-day moving average price is $13.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market cap of $1.98 billion, a P/E ratio of 4.99 and a beta of 1.10.

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

Insider Activity

In other DXC Technology news, CEO Raul J. Fernandez acquired 16,446 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average cost of $15.24 per share, with a total value of $250,637.04. Following the completion of the transaction, the chief executive officer directly owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DXC Technology

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of DXC Technology by 97.0% in the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock worth $60,150,000 after acquiring an additional 1,936,726 shares during the period. Assenagon Asset Management S.A. lifted its position in DXC Technology by 2,316.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock valued at $23,001,000 after purchasing an additional 1,505,069 shares during the period. UBS Group AG lifted its position in DXC Technology by 131.2% during the third quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after purchasing an additional 1,161,879 shares during the period. Norges Bank purchased a new stake in DXC Technology in the second quarter worth approximately $16,589,000. Finally, Qube Research & Technologies Ltd grew its position in DXC Technology by 1,156.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock worth $17,317,000 after purchasing an additional 1,042,409 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.