DXC Technology (NYSE:DXC) Upgraded to Buy by Bank of America

Bank of America upgraded shares of DXC Technology (NYSE:DXC) from a neutral rating to a buy rating in a research note published on Tuesday, Analyst Price Targets reports. Bank of America currently has $45.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of DXC Technology from $42.00 to $47.00 and gave the company an outperform rating in a research report on Thursday, August 5th. JPMorgan Chase & Co. cut DXC Technology from a neutral rating to an underweight rating and raised their price objective for the company from $42.00 to $45.00 in a research note on Tuesday, August 17th. Citigroup raised their price objective on DXC Technology from $44.00 to $49.00 and gave the company a buy rating in a research note on Thursday, August 5th. Susquehanna upgraded DXC Technology from a neutral rating to a positive rating and set a $42.00 price objective on the stock in a research note on Tuesday, August 24th. Finally, Susquehanna Bancshares upgraded DXC Technology from a neutral rating to a positive rating and set a $42.00 target price on the stock in a research note on Tuesday, August 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $43.58.

DXC Technology stock opened at $35.38 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.02 and a current ratio of 1.02. DXC Technology has a 52-week low of $15.64 and a 52-week high of $44.18. The firm has a 50 day moving average price of $38.37 and a two-hundred day moving average price of $35.50. The firm has a market cap of $8.91 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 0.35 and a beta of 2.44.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Wednesday, August 4th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.09. DXC Technology had a net margin of 1.92% and a return on equity of 14.72%. The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $4.10 billion. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. As a group, equities research analysts predict that DXC Technology will post 3.6 EPS for the current fiscal year.

In related news, Director Raul J. Fernandez acquired 2,545 shares of the stock in a transaction on Friday, August 6th. The stock was purchased at an average price of $39.55 per share, for a total transaction of $100,654.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Raul J. Fernandez acquired 1,247 shares of the stock in a transaction on Wednesday, August 11th. The stock was bought at an average price of $40.10 per share, with a total value of $50,004.70. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 17,791 shares of company stock valued at $684,089. 0.39% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in DXC. Franklin Resources Inc. raised its holdings in shares of DXC Technology by 143,299.2% during the second quarter. Franklin Resources Inc. now owns 13,238,613 shares of the company’s stock valued at $515,511,000 after acquiring an additional 13,229,381 shares in the last quarter. Point72 Asset Management L.P. grew its stake in DXC Technology by 147.5% in the first quarter. Point72 Asset Management L.P. now owns 7,517,578 shares of the company’s stock worth $234,999,000 after purchasing an additional 4,479,808 shares during the period. Invesco Ltd. grew its stake in DXC Technology by 42.6% in the second quarter. Invesco Ltd. now owns 6,738,539 shares of the company’s stock worth $262,399,000 after purchasing an additional 2,014,189 shares during the period. Allianz Asset Management GmbH grew its stake in DXC Technology by 213.3% in the second quarter. Allianz Asset Management GmbH now owns 2,339,491 shares of the company’s stock worth $91,100,000 after purchasing an additional 1,592,649 shares during the period. Finally, FMR LLC grew its stake in DXC Technology by 15.1% in the second quarter. FMR LLC now owns 10,764,613 shares of the company’s stock worth $419,174,000 after purchasing an additional 1,408,819 shares during the period. Institutional investors own 85.38% of the company’s stock.

DXC Technology Company Profile

DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerates the digital transformations that is tailored to each client’s specific objectives.

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Analyst Recommendations for DXC Technology (NYSE:DXC)

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