DXC Technology (NYSE:DXC) Upgraded to Hold at Zacks Research

DXC Technology (NYSE:DXC) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

DXC has been the topic of several other reports. Morgan Stanley decreased 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 report on Thursday, May 14th. Wall Street Zen cut shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. BMO Capital Markets lowered their price objective on shares of DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 price objective on shares of DXC Technology in a report on Friday, June 12th. Finally, TD Cowen cut their target price on shares of DXC Technology from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Thursday, July 9th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $12.25.

DXC Technology Price Performance

DXC Technology stock opened at $9.15 on Monday. DXC Technology has a 52 week low of $7.90 and a 52 week high of $15.68. The business has a 50-day simple moving average of $9.25 and a 200 day simple moving average of $11.85. 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 stock has a market cap of $1.50 billion, a price-to-earnings ratio of 152.58 and a beta of 0.82.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Friday, May 8th. The company reported $0.77 earnings per share 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 analysts’ expectations of $3.17 billion. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The company’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. On average, research analysts forecast that DXC Technology will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DXC Technology news, CEO Raul J. Fernandez purchased 28,051 shares of the stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $8.90 per share, with a total value 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its stake in shares of DXC Technology by 156.3% in the 1st quarter. Royal Bank of Canada now owns 99,930 shares of the company’s stock valued at $1,703,000 after acquiring an additional 60,935 shares during the last quarter. Goldman Sachs Group Inc. grew its position in DXC Technology by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock worth $21,134,000 after acquiring an additional 49,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in DXC Technology by 4.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 735,597 shares of the company’s stock worth $12,542,000 after purchasing an additional 34,544 shares during the period. Creative Planning increased its stake in DXC Technology by 83.9% in the 2nd quarter. Creative Planning now owns 21,863 shares of the company’s stock worth $334,000 after purchasing an additional 9,972 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in DXC Technology by 240.6% in 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 during the last quarter. 96.20% of the stock is owned by 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.