DXC Technology Company. (NYSE:DXC) Given Average Recommendation of “Reduce” by Brokerages

Shares of DXC Technology Company. (NYSE:DXC) have been given a consensus recommendation of “Reduce” by the ten ratings firms that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $12.25.

DXC has been the subject of a number of research reports. BMO Capital Markets lowered their price objective on shares of DXC Technology from $17.00 to $10.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded shares of DXC Technology from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Morgan Stanley dropped their price objective on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th.

Insider Buying and Selling

In related news, CEO Raul J. Fernandez bought 28,051 shares of the stock in a transaction on Monday, May 11th. The stock was bought at an average price of $8.90 per share, for a total transaction of $249,653.90. Following the completion of the acquisition, the chief executive officer directly owned 844,052 shares in the company, valued at approximately $7,512,062.80. This represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DXC. EverSource Wealth Advisors LLC boosted its position in DXC Technology by 240.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock valued at $27,000 after purchasing an additional 1,227 shares in the last quarter. Danske Bank A S raised its holdings in DXC Technology by 280.0% in the fourth quarter. Danske Bank A S now owns 1,900 shares of the company’s stock worth $28,000 after purchasing an additional 1,400 shares in the last quarter. Fifth Third Bancorp raised its holdings in DXC Technology by 116.0% in the fourth quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after purchasing an additional 1,129 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of DXC Technology by 110.5% during the fourth quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock valued at $32,000 after buying an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in shares of DXC Technology by 13,258.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock valued at $33,000 after buying an additional 2,254 shares during the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

Shares of DXC stock opened at $9.49 on Friday. DXC Technology has a twelve month low of $7.90 and a twelve month high of $15.68. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 158.25 and a beta of 0.82. The stock has a fifty day simple moving average of $9.16 and a two-hundred day simple moving average of $11.75. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.94.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Friday, May 8th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share. On average, analysts predict that DXC Technology will post 2.61 EPS for the current fiscal year.

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.