Zacks Research Upgrades DXC Technology (NYSE:DXC) to Strong-Buy

DXC Technology (NYSE:DXC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts also recently commented on DXC. Stifel Nicolaus cut their target price on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, October 31st. BMO Capital Markets lifted their price objective on DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Tuesday. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an “underperform” rating in a research report on Friday. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of DXC Technology in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Price Performance

Shares of NYSE:DXC opened at $13.47 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.09 and a current ratio of 1.35. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 5.78 and a beta of 1.07. The business has a 50-day simple moving average of $14.66 and a two-hundred day simple moving average of $14.00. DXC Technology has a fifty-two week low of $11.82 and a fifty-two week high of $23.75.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that DXC Technology will post 3.35 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $15.15, for a total transaction of $37,875.00. Following the transaction, the senior vice president owned 88,605 shares in the company, valued at approximately $1,342,365.75. The trade was a 2.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Raul J. Fernandez bought 16,446 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average cost of $15.24 per share, with a total value of $250,637.04. Following the acquisition, the chief executive officer directly owned 816,001 shares in the company, valued at $12,435,855.24. This trade represents a 2.06% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXC Technology

A number of institutional investors and hedge funds have recently bought and sold shares of DXC. Vanguard Group Inc. boosted its stake in shares of DXC Technology by 3.5% in the third 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 period. American Century Companies Inc. lifted its holdings in DXC Technology by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 7,591,818 shares of the company’s stock worth $103,476,000 after purchasing an additional 596,475 shares in the last quarter. State Street Corp boosted its stake in DXC Technology by 2.1% in the 2nd quarter. State Street Corp now owns 6,381,982 shares of the company’s stock worth $97,581,000 after purchasing an additional 128,916 shares during the period. AQR Capital Management LLC grew its holdings in DXC Technology by 13.5% during the 3rd quarter. AQR Capital Management LLC now owns 4,463,367 shares of the company’s stock valued at $60,836,000 after buying an additional 529,394 shares in the last quarter. Finally, UBS Group AG grew its holdings in DXC Technology by 131.2% during the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $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.