DXC Technology Company. (DXC) Lifted to “Buy” at Zacks Investment Research
DXC Technology Company. (NYSE:DXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $99.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.39% from the company’s current price.
According to Zacks, “DXC Technology is a result of merger between CSC and Enterprise Services Division of HPE. We believe that the merger has opened new avenues of growth for the combined company. Recently, DXC expanded its ties with VMware. We believe that the partnership will enable DXC to offer an efficient and improved hybrid IT environment to drive performance. Going ahead, following the footsteps of Computer Sciences, DXC Technology may be seen making strategic acquisitions to strengthen its portfolio, which should drive growth over the long run. Notably, the company has outperformed the industry over the past one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability. Additionally, a challenging macroeconomic situation and uncertain IT spending environment remain other headwinds.”
DXC has been the topic of several other reports. Stifel Nicolaus reissued a “hold” rating and set a $86.00 price target on shares of DXC Technology Company. in a research report on Thursday, August 10th. Cowen and Company reissued a “hold” rating and set a $77.00 price target on shares of DXC Technology Company. in a research report on Thursday, August 10th. TheStreet raised DXC Technology Company. from a “c” rating to a “b” rating in a research report on Tuesday, August 8th. Bank of America Corporation assumed coverage on DXC Technology Company. in a research report on Tuesday, September 12th. They set a “buy” rating and a $101.00 price target on the stock. Finally, BMO Capital Markets restated an “outperform” rating and set a $94.00 price objective (up from $92.00) on shares of DXC Technology Company. in a report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $90.93.
DXC Technology Company. (NYSE:DXC) traded down 0.36% during mid-day trading on Tuesday, hitting $88.09. 1,569,049 shares of the company were exchanged. The stock has a market cap of $25.08 billion, a price-to-earnings ratio of 277.89 and a beta of 1.04. The firm has a 50 day moving average price of $85.22 and a 200 day moving average price of $79.39. DXC Technology Company. has a 12 month low of $50.41 and a 12 month high of $89.52.
DXC Technology Company. (NYSE:DXC) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.25 by $0.34. The firm had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. DXC Technology Company. had a return on equity of 17.51% and a net margin of 0.49%. Analysts anticipate that DXC Technology Company. will post $6.82 EPS for the current fiscal year.
WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/10/dxc-technology-company-dxc-lifted-to-buy-at-zacks-investment-research.html.
In other news, EVP Michael G. Nefkens sold 128,328 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.03, for a total value of $10,270,089.84. Following the completion of the sale, the executive vice president now directly owns 25,447 shares in the company, valued at approximately $2,036,523.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Paul N. Saleh sold 80,922 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $84.01, for a total value of $6,798,257.22. Following the completion of the sale, the chief financial officer now owns 217,211 shares of the company’s stock, valued at $18,247,896.11. The disclosure for this sale can be found here. Insiders sold a total of 359,666 shares of company stock valued at $29,091,539 over the last quarter. Company insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new position in DXC Technology Company. during the 2nd quarter worth $101,000. Hanson McClain Inc. bought a new position in DXC Technology Company. during the 2nd quarter worth $105,000. Pinebridge Investments L.P. bought a new position in DXC Technology Company. during the 2nd quarter worth $106,000. Cribstone Capital Management LLC grew its stake in DXC Technology Company. by 4.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 1,408 shares of the company’s stock worth $108,000 after buying an additional 63 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. bought a new position in DXC Technology Company. during the 2nd quarter worth $109,000. Institutional investors and hedge funds own 85.04% of the company’s stock.
About DXC Technology Company.
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for DXC Technology Company. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology Company. and related companies with MarketBeat.com's FREE daily email newsletter.