DXC Technology (NYSE:DXC) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of DXC Technology (NYSE:DXC) from a buy rating to a hold rating in a report issued on Saturday.

A number of other equities research analysts have also recently issued reports on the stock. Zacks Research cut shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd. Wolfe Research set a $13.00 price objective on shares of DXC Technology and gave the stock an “underperform” rating in a research note on Friday, January 30th. Finally, BMO Capital Markets boosted their price objective on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a report on Tuesday, February 3rd. Seven investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, DXC Technology currently has a consensus rating of “Reduce” and an average target price of $14.71.

DXC Technology Stock Up 1.3%

DXC Technology stock opened at $11.97 on Friday. The company’s 50-day moving average price is $13.13 and its two-hundred day moving average price is $13.65. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The stock has a market cap of $2.03 billion, a P/E ratio of 5.14 and a beta of 1.10. DXC Technology has a twelve month low of $11.54 and a twelve month high of $17.68.

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

Insider Buying and Selling at DXC Technology

In related news, CEO Raul J. Fernandez bought 16,446 shares of DXC Technology stock in a transaction dated Monday, February 2nd. The shares were bought at an average cost of $15.24 per share, with a total value of $250,637.04. Following the acquisition, the chief executive officer owned 816,001 shares in the company, valued at $12,435,855.24. This trade represents a 2.06% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its stake in DXC Technology by 97.0% during the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock worth $60,150,000 after buying an additional 1,936,726 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock valued at $23,001,000 after buying an additional 1,505,069 shares in the last quarter. UBS Group AG raised its position in shares of DXC Technology by 131.2% in the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after buying an additional 1,161,879 shares in the last quarter. Norges Bank acquired a new position in shares of DXC Technology in the 2nd quarter valued at approximately $16,589,000. Finally, Qube Research & Technologies Ltd raised its position in shares of DXC Technology by 1,156.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after buying an additional 1,042,409 shares in the last quarter. Institutional investors and hedge funds 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.