DXC Technology Company. (DXC) Upgraded 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 note issued to investors on Friday. The brokerage currently has a $102.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 12.05% from the stock’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.”
Several other equities analysts have also recently weighed in on DXC. Morgan Stanley upgraded shares of DXC Technology Company. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $68.00 to $85.00 in a research note on Tuesday, July 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $87.00 price objective on shares of DXC Technology Company. in a research note on Friday, July 7th. KeyCorp upgraded shares of DXC Technology Company. from a “sector weight” rating to an “overweight” rating and set a $93.00 target price on the stock in a research note on Friday, July 21st. BMO Capital Markets restated an “outperform” rating and set a $94.00 target price (up previously from $92.00) on shares of DXC Technology Company. in a research note on Wednesday, August 9th. Finally, Stifel Nicolaus restated a “hold” rating and set a $86.00 target price on shares of DXC Technology Company. in a research note on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. DXC Technology Company. has an average rating of “Buy” and a consensus price target of $96.38.
Shares of DXC Technology Company. (DXC) traded up 0.687% during mid-day trading on Friday, reaching $91.655. 448,305 shares of the company’s stock traded hands. DXC Technology Company. has a 12-month low of $51.68 and a 12-month high of $93.40. The firm’s 50 day moving average price is $86.41 and its 200-day moving average price is $80.30. The stock has a market cap of $26.09 billion, a price-to-earnings ratio of 289.132 and a beta of 1.04.
DXC Technology Company. (NYSE:DXC) last issued its quarterly earnings data on Tuesday, August 8th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Equities research analysts forecast that DXC Technology Company. will post $6.83 earnings per share for the current year.
In related news, EVP Michael G. Nefkens sold 128,328 shares of the company’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 sale, the executive vice president now owns 25,447 shares in the company, valued at $2,036,523.41. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael G. Nefkens sold 35,340 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $92.00, for a total value of $3,251,280.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 285,050 shares of company stock worth $23,659,195. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of DXC. Neuberger Berman Group LLC purchased a new stake in DXC Technology Company. in the first quarter valued at approximately $233,000. Goldman Sachs Group Inc. purchased a new stake in DXC Technology Company. in the first quarter valued at approximately $115,847,000. Cacti Asset Management LLC purchased a new stake in DXC Technology Company. in the second quarter valued at approximately $209,000. Grassi Investment Management purchased a new stake in DXC Technology Company. in the second quarter valued at approximately $203,000. Finally, DnB Asset Management AS purchased a new stake in DXC Technology Company. in the second quarter valued at approximately $5,506,000. Hedge funds and other institutional investors own 85.05% 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.
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