DXC Technology (NYSE:DXC) Sees Strong Trading Volume – Here’s What Happened

DXC Technology Company. (NYSE:DXC) saw unusually-strong trading volume on Thursday . Approximately 2,048,162 shares were traded during trading, a decline of 40% from the previous session’s volume of 3,433,196 shares.The stock last traded at $8.8940 and had previously closed at $8.82.

Analyst Ratings Changes

A number of analysts have recently issued reports on DXC shares. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $16.00 target price on shares of DXC Technology in a research note on Friday. BMO Capital Markets lowered their target price 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. Stifel Nicolaus set a $12.00 price objective on DXC Technology in a report on Friday, May 8th. Finally, Zacks Research downgraded DXC Technology from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $12.75.

DXC Technology Price Performance

The firm has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $12.68. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94. The company has a market cap of $1.50 billion, a PE ratio of 153.25 and a beta of 0.81.

DXC Technology (NYSE:DXC) last posted its earnings results on Friday, May 8th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The company had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the previous year, the firm earned $0.84 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. As a group, research analysts predict that DXC Technology Company. will post 2.64 earnings per share for the current fiscal year.

Insider Transactions at DXC Technology

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

Institutional Investors Weigh In On DXC Technology

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of DXC Technology by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company’s stock worth $10,127,000 after acquiring an additional 162,958 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 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 worth $23,001,000 after acquiring an additional 1,505,069 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of DXC Technology by 3.5% during the third quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock worth $319,654,000 after acquiring an additional 800,973 shares during the last quarter. Nierenberg Investment Management Company Inc. grew its stake in shares of DXC Technology by 634.5% during the third quarter. Nierenberg Investment Management Company Inc. now owns 99,555 shares of the company’s stock worth $1,357,000 after acquiring an additional 86,000 shares during the last quarter. Finally, Arnhold LLC grew its stake in shares of DXC Technology by 24.9% during the third quarter. Arnhold LLC now owns 790,475 shares of the company’s stock worth $10,774,000 after acquiring an additional 157,775 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

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.