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

DXC Technology Company. (NYSE:DXC) has been assigned an average rating of “Reduce” from the ten research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $12.75.

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $12.00 price objective on shares of DXC Technology in a research report on Friday, May 8th. Weiss Ratings downgraded shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. BMO Capital Markets cut 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 report on Monday, May 11th. TD Cowen cut their price objective on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $16.00 price objective on shares of DXC Technology in a research report on Friday, June 12th.

Insider Buying and Selling

In related news, CEO Raul J. Fernandez purchased 28,051 shares of the stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $8.90 per share, with a total value of $249,653.90. Following the purchase, the chief executive officer directly owned 844,052 shares in the company, valued at $7,512,062.80. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.13% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of DXC Technology by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock worth $319,654,000 after purchasing an additional 800,973 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of DXC Technology by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company’s stock worth $126,068,000 after purchasing an additional 258,819 shares during the period. American Century Companies Inc. grew its stake in shares of DXC Technology by 8.5% during the 3rd quarter. American Century Companies Inc. now owns 7,591,818 shares of the company’s stock worth $103,476,000 after purchasing an additional 596,475 shares during the period. FIL Ltd grew its stake in shares of DXC Technology by 0.7% during the 4th quarter. FIL Ltd now owns 6,383,750 shares of the company’s stock worth $93,522,000 after purchasing an additional 45,015 shares during the period. Finally, State Street Corp grew its stake in shares of DXC Technology by 2.1% during the 2nd quarter. State Street Corp now owns 6,381,982 shares of the company’s stock worth $97,581,000 after purchasing an additional 128,916 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

DXC Technology Stock Down 3.7%

Shares of DXC Technology stock opened at $8.29 on Tuesday. The company has a market cap of $1.35 billion, a P/E ratio of 138.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.36 and a current ratio of 1.36. DXC Technology has a one year low of $7.90 and a one year high of $16.45. The firm has a fifty day moving average of $10.20 and a two-hundred day moving average of $12.49.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The company had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.17 billion. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. DXC Technology’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, analysts forecast that DXC Technology will post 2.64 earnings per share for the current 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.