DXC Technology (NYSE:DXC) Downgraded to “Hold” Rating by Wall Street Zen

DXC Technology (NYSE:DXC) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other equities research analysts have also recently commented on the company. Zacks Research cut DXC Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wolfe Research set a $13.00 target price on DXC Technology and gave the stock an “underperform” rating in a research report on Friday, January 30th. Finally, BMO Capital Markets upped their target price on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Price Performance

Shares of NYSE DXC opened at $11.83 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of 5.08 and a beta of 1.10. DXC Technology has a twelve month low of $11.54 and a twelve month high of $17.68. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a 50 day moving average of $13.19 and a 200 day moving average of $13.67.

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 business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The company’s revenue was down 1.0% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. As a group, research analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Insider Activity at DXC Technology

In other news, CEO Raul J. Fernandez acquired 16,446 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average price of $15.24 per share, with a total value of $250,637.04. Following the completion of the acquisition, the chief executive officer directly owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. The trade was a 2.06% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DXC. AQR Capital Management LLC grew its stake in shares of DXC Technology by 97.0% during the 2nd quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after purchasing an additional 1,936,726 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after purchasing an additional 1,505,069 shares during the period. UBS Group AG boosted its holdings in shares of DXC Technology by 131.2% in the third quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock worth $27,906,000 after buying an additional 1,161,879 shares during the last quarter. Norges Bank purchased a new position in shares of DXC Technology in the second quarter worth approximately $16,589,000. Finally, Qube Research & Technologies Ltd grew its position in DXC Technology by 1,156.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after buying an additional 1,042,409 shares during the period. 96.20% of the stock is owned by hedge funds and other institutional investors.

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.