DXC Technology (DXC) Receives “Buy” Rating from Citigroup

DXC Technology (NYSE:DXC)‘s stock had its “buy” rating reaffirmed by stock analysts at Citigroup in a research report issued on Thursday, MarketBeat.com reports. They currently have a $117.00 price objective on the stock, up from their previous price objective of $107.00. Citigroup’s price target would suggest a potential upside of 15.86% from the company’s current price.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $87.00 price objective on shares of DXC Technology in a research note on Friday, October 13th. Zacks Investment Research raised DXC Technology from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research note on Tuesday, October 10th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $93.00 price objective on shares of DXC Technology in a research note on Wednesday, November 8th. Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of DXC Technology in a research note on Thursday, October 12th. Finally, Stifel Nicolaus raised their target price on DXC Technology from $86.00 to $100.00 and gave the stock a “hold” rating in a research note on Wednesday, November 8th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $102.12.

Shares of DXC Technology (NYSE:DXC) traded up $0.48 during trading hours on Thursday, hitting $100.98. The stock had a trading volume of 1,980,000 shares, compared to its average volume of 1,400,000. DXC Technology has a 52-week low of $64.06 and a 52-week high of $102.95. The company has a market capitalization of $28,810.00 and a PE ratio of 171.15. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.51.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.40. DXC Technology had a return on equity of 17.83% and a net margin of 1.88%. The firm had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.07 billion. DXC Technology’s revenue for the quarter was up 229.4% compared to the same quarter last year. research analysts expect that DXC Technology will post 7.52 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in DXC Technology by 30,928.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock worth $1,593,568,000 after acquiring an additional 20,704,283 shares during the last quarter. Dodge & Cox purchased a new position in DXC Technology in the 2nd quarter worth approximately $1,032,608,000. State Street Corp purchased a new position in DXC Technology in the 2nd quarter worth approximately $898,855,000. Glenview Capital Management LLC purchased a new position in DXC Technology in the 2nd quarter worth approximately $625,894,000. Finally, FMR LLC purchased a new position in DXC Technology in the 2nd quarter worth approximately $375,799,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

TRADEMARK VIOLATION WARNING: “DXC Technology (DXC) Receives “Buy” Rating from Citigroup” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/21/dxc-technology-dxc-receives-buy-rating-from-citigroup.html.

About DXC Technology

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.

Analyst Recommendations for DXC Technology (NYSE:DXC)

Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply