DXC Technology (NYSE:DXC) Trading Down 9.4% – What’s Next?

DXC Technology Company. (NYSE:DXC)’s stock price fell 9.4% during trading on Monday . The stock traded as low as $12.38 and last traded at $12.0970. 985,235 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,317,811 shares. The stock had previously closed at $13.35.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DXC shares. BMO Capital Markets lifted their price objective 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. Susquehanna set a $14.00 target price on DXC Technology and gave the company a “neutral” rating in a report on Friday, October 31st. Stifel Nicolaus lowered their price target on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a report on Friday, October 31st. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an “underperform” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $14.71.

DXC Technology Stock Performance

The company’s 50-day simple moving average is $14.60 and its 200-day simple moving average is $13.99. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 5.09 and a beta of 1.07. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.18 billion. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. DXC Technology’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. On average, analysts expect that DXC Technology Company. will post 3.35 EPS for the current year.

Insider Transactions at DXC Technology

In related news, CEO Raul J. Fernandez purchased 16,446 shares of DXC Technology stock in a transaction on Monday, February 2nd. The shares were purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the transaction, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This represents a 2.06% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Christopher Anthony Voci sold 2,500 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $15.15, for a total value of $37,875.00. Following the transaction, the senior vice president owned 88,605 shares of the company’s stock, valued at $1,342,365.75. This trade represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DXC Technology

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of DXC Technology by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock valued at $319,654,000 after acquiring an additional 800,973 shares in the last quarter. American Century Companies Inc. grew its holdings in DXC Technology by 8.5% in the third 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 holdings in DXC Technology by 0.7% in the fourth 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. State Street Corp increased its stake in DXC Technology by 2.1% in the second quarter. State Street Corp now owns 6,381,982 shares of the company’s stock valued at $97,581,000 after purchasing an additional 128,916 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of DXC Technology by 6.4% during the fourth quarter. AQR Capital Management LLC now owns 4,750,808 shares of the company’s stock valued at $69,599,000 after purchasing an additional 287,441 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Company Profile

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.