DXC Technology (NYSE:DXC) Stock Price Down 7.7% – What’s Next?

DXC Technology Company. (NYSE:DXC) shares were down 7.7% on Monday . The company traded as low as $13.89 and last traded at $14.0310. Approximately 321,433 shares traded hands during trading, a decline of 85% from the average daily volume of 2,083,293 shares. The stock had previously closed at $15.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DXC shares. Wolfe Research set a $13.00 price target on DXC Technology and gave the stock an “underperform” rating in a research note on Friday, January 30th. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. BMO Capital Markets boosted their price target on DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Susquehanna set a $14.00 price target on shares of DXC Technology and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Stifel Nicolaus dropped their price objective on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, October 31st. 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. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.71.

DXC Technology Price Performance

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 stock has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $14.00. The firm has a market cap of $2.43 billion, a PE ratio of 6.15 and a beta of 1.07.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The business’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Equities analysts anticipate that DXC Technology Company. will post 3.35 earnings per share for the current fiscal year.

Insider Activity at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Raul J. Fernandez bought 16,446 shares of the business’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 purchase, the chief executive officer directly owned 816,001 shares of the company’s stock, valued at $12,435,855.24. This represents a 2.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DXC Technology

Several large investors have recently made changes to their positions in DXC. Vanguard Group Inc. raised its holdings in shares of DXC Technology by 3.5% during 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 in the last quarter. American Century Companies Inc. raised its stake in DXC Technology by 8.5% during the third 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 in the last quarter. State Street Corp raised its stake in DXC Technology by 2.1% during 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 in the last quarter. AQR Capital Management LLC lifted its position in DXC Technology by 13.5% during the third quarter. AQR Capital Management LLC now owns 4,463,367 shares of the company’s stock valued at $60,836,000 after purchasing an additional 529,394 shares during the last quarter. Finally, UBS Group AG grew its stake in shares of DXC Technology by 131.2% in the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock worth $27,906,000 after buying an additional 1,161,879 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

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.