DXC Technology (NYSE:DXC) Stock Jumps 5% – Here’s Why

DXC Technology Company. (NYSE:DXC) shares shot up 5% on Tuesday. The stock traded as high as $13.18 and last traded at $13.1630. 1,780,698 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 3,725,121 shares. The stock had previously closed at $12.54.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings raised DXC Technology from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. TD Cowen increased their target price on shares of DXC Technology from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Stifel Nicolaus dropped their price target on shares of DXC Technology from $12.00 to $10.50 and set a “hold” rating for the company in a research note on Friday, July 31st. Morgan Stanley set a $12.00 target price on shares of DXC Technology in a research report on Monday, August 3rd. Finally, Zacks Research upgraded shares of DXC Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $12.21.

DXC Technology Stock Up 3.6%

The company’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $10.62. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.08 billion, a PE ratio of 18.55 and a beta of 0.79.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, July 30th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). DXC Technology had a net margin of 0.99% and a return on equity of 15.60%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period last year, the firm earned $0.68 earnings per share. DXC Technology’s revenue for the quarter was down 5.0% compared to the same quarter last year. DXC Technology has set its Q2 2027 guidance at 0.550-0.550 EPS. On average, equities research analysts expect that DXC Technology Company. will post 2.61 EPS for the current fiscal year.

Institutional Investors Weigh In On DXC Technology

A number of hedge funds have recently made changes to their positions in the company. Nykredit A S bought a new stake in shares of DXC Technology in the second quarter worth approximately $51,580,000. BlackRock Inc. grew its stake in shares of DXC Technology by 21.5% during the 2nd quarter. BlackRock Inc. now owns 28,276,735 shares of the company’s stock worth $250,249,000 after purchasing an additional 4,994,936 shares during the period. State Street Corp raised its holdings in shares of DXC Technology by 25.0% during the 2nd quarter. State Street Corp now owns 7,683,280 shares of the company’s stock worth $67,997,000 after acquiring an additional 1,536,243 shares during the period. Bank of America Corp DE acquired a new stake in shares of DXC Technology in the second quarter valued at $11,706,000. Finally, SEB Asset Management AB acquired a new position in shares of DXC Technology during the first quarter worth $12,103,000. Institutional investors and hedge funds own 96.20% of the company’s stock.

About DXC Technology

DXC Technology (NYSE:DXC) is a global information technology services company that helps businesses and government organizations modernize and manage their technology environments. Its services include IT consulting, systems integration, cloud computing, cybersecurity, data and analytics, application development and management, and workplace and infrastructure services.

The company supports clients in moving workloads to public, private and hybrid cloud environments, improving digital customer experiences, automating business processes and managing complex technology operations.