DXC Technology Company. (NYSE:DXC) Receives Average Recommendation of “Reduce” from Analysts

Shares of DXC Technology Company. (NYSE:DXC) have been assigned an average rating of “Reduce” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $14.7143.

Several brokerages recently commented on DXC. Zacks Research raised DXC Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Susquehanna set a $14.00 price target on DXC Technology and gave the stock a “neutral” rating in a research report on Friday, October 31st. Stifel Nicolaus cut their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a report on Friday, October 31st. Wall Street Zen lowered DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, BMO Capital Markets raised their target price on shares of DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Tuesday, February 3rd.

DXC Technology Price Performance

DXC Technology stock opened at $13.39 on Wednesday. The company’s 50 day simple moving average is $14.70 and its 200 day simple moving average is $13.99. DXC Technology has a fifty-two week low of $11.82 and a fifty-two week high of $21.35. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 5.75 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.83 by $0.13. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, sell-side analysts anticipate that DXC Technology will post 3.35 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of DXC Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in DXC. AQR Capital Management LLC increased its position in shares of DXC Technology by 97.0% in the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after acquiring an additional 1,936,726 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in DXC Technology by 2,316.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock valued at $23,001,000 after purchasing an additional 1,505,069 shares during the last quarter. UBS Group AG grew its stake in DXC Technology by 131.2% in the third quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after purchasing an additional 1,161,879 shares in the last quarter. Norges Bank acquired a new position in shares of DXC Technology during the 2nd quarter worth approximately $16,589,000. Finally, Qube Research & Technologies Ltd increased its position in shares of DXC Technology by 1,156.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock worth $17,317,000 after purchasing an additional 1,042,409 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

About DXC Technology

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.