DXC Technology Company. (DXC) Downgraded by Zacks Investment Research to “Hold”
DXC Technology Company. (NYSE:DXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
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.”
A number of other analysts have also recently weighed in on the stock. KeyCorp restated an “overweight” rating and issued a $99.00 price target (up from $92.00) on shares of DXC Technology Company. in a report on Monday. BMO Capital Markets raised their price target on shares of DXC Technology Company. from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Bank of America Corporation assumed coverage on shares of DXC Technology Company. in a report on Tuesday, September 12th. They issued a “buy” rating and a $101.00 price target on the stock. Jefferies Group LLC raised their price target on shares of DXC Technology Company. from $85.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $79.00 price target on shares of DXC Technology Company. in a report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $90.93.
Shares of DXC Technology Company. (NYSE:DXC) traded down 0.50% on Wednesday, reaching $87.65. 2,024,394 shares of the company’s stock traded hands. DXC Technology Company. has a 12-month low of $51.22 and a 12-month high of $89.52. The company has a market cap of $24.95 billion, a PE ratio of 276.50 and a beta of 1.04. The stock has a 50-day moving average price of $85.28 and a 200-day moving average price of $79.45.
DXC Technology Company. (NYSE:DXC) last released its quarterly earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.34. DXC Technology Company. had a net margin of 0.49% and a return on equity of 17.51%. The business had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Equities research analysts anticipate that DXC Technology Company. will post $6.82 EPS for the current fiscal year.
In related news, CFO Paul N. Saleh sold 80,922 shares of DXC Technology Company. 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 directly owns 217,211 shares in the company, valued at approximately $18,247,896.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul N. Saleh sold 40,460 shares of DXC Technology Company. stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $82.54, for a total transaction of $3,339,568.40. Following the completion of the sale, the chief financial officer now owns 136,384 shares of the company’s stock, valued at $11,257,135.36. 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. 1.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new position in DXC Technology Company. during the 2nd quarter worth approximately $101,000. Hanson McClain Inc. purchased a new position in DXC Technology Company. during the 2nd quarter worth approximately $105,000. Pinebridge Investments L.P. purchased a new position in DXC Technology Company. during the 2nd quarter worth approximately $106,000. Oppenheimer Asset Management Inc. purchased a new position in DXC Technology Company. during the 2nd quarter worth approximately $109,000. Finally, Cribstone Capital Management LLC raised its position 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. 85.04% of the stock is owned by institutional investors.
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.
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