DXC Technology (NYSE:DXC) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of DXC Technology (NYSE:DXC) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on DXC. Wolfe Research set a $13.00 price objective on DXC Technology and gave the stock an “underperform” rating in a report on Friday. BMO Capital Markets raised their target price 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. Wall Street Zen cut shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of DXC Technology in a research report on Wednesday, October 8th. Finally, Susquehanna set a $14.00 price target on DXC Technology and gave the stock a “neutral” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Trading Up 6.2%

NYSE DXC traded up $0.84 during trading hours on Monday, hitting $14.34. 776,676 shares of the company’s stock were exchanged, compared to its average volume of 1,960,066. The business’s 50 day moving average is $14.66 and its 200-day moving average is $14.00. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.09 and a current ratio of 1.35. DXC Technology has a 12-month low of $11.82 and a 12-month high of $23.75. The firm has a market capitalization of $2.43 billion, a P/E ratio of 6.14 and a beta of 1.07.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts anticipate that DXC Technology will post 3.35 EPS for the current fiscal year.

Insider Transactions at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $15.15, for a total transaction of $37,875.00. Following the transaction, the senior vice president owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. This trade represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Raul J. Fernandez purchased 16,446 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was purchased at an average price of $15.24 per share, with a total value of $250,637.04. Following the completion of the purchase, the chief executive officer directly 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 SEC filing for this purchase provides additional information. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in DXC Technology by 3.5% during the third quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock valued at $319,654,000 after purchasing an additional 800,973 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of DXC Technology by 8.5% in the 3rd quarter. American Century Companies Inc. now owns 7,591,818 shares of the company’s stock valued at $103,476,000 after buying an additional 596,475 shares during the period. State Street Corp grew its position 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 valued at $97,581,000 after buying an additional 128,916 shares during the last quarter. AQR Capital Management LLC raised its stake in DXC Technology by 13.5% during the third quarter. AQR Capital Management LLC now owns 4,463,367 shares of the company’s stock worth $60,836,000 after acquiring an additional 529,394 shares during the period. Finally, UBS Group AG lifted its holdings in DXC Technology by 131.2% in the third quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock worth $27,906,000 after acquiring an additional 1,161,879 shares during the last quarter. 96.20% of the stock is currently 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.