DXC Technology (NYSE:DXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $109.00 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.85% from the company’s current price.

According to Zacks, “DXC Technology reported mixed third-quarter fiscal 2018 results, where in the bottom line surpassed the Zacks Consensus Estimate while the top line missed the same. The company’s upbeat guidance for earnings makes us optimistic about its near-term performance. DXC Technology is a result of merger between CSC and Enterprise Services Division of HPE. We believe that the merger has opened new avenues of growth for the combined company. Going ahead, following the footsteps of Computer Sciences, DXC Technology may be seen making strategic acquisitions to strengthen its portfolio, which should drive growth over the long run. Additionally, the company’s traction in the cloud and partnerships with HCL, AT&T, VMware and Microsoft are expected to drive growth, going forward. The stock has outperformed the industry in the last one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability.”

Several other research firms also recently weighed in on DXC. Evercore ISI initiated coverage on shares of DXC Technology in a report on Tuesday, October 17th. They set an “outperform” rating and a $115.00 target price for the company. Morgan Stanley restated an “overweight” rating and set a $104.00 target price (up from $86.00) on shares of DXC Technology in a report on Wednesday, October 18th. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on shares of DXC Technology from $87.00 to $99.00 and gave the company an “outperform” rating in a report on Wednesday, November 8th. Citigroup raised their target price on shares of DXC Technology to $107.00 in a report on Wednesday, November 8th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $93.00 target price on shares of DXC Technology in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $103.33.

DXC Technology (NYSE DXC) opened at $100.14 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.48. The stock has a market cap of $27,780.29, a PE ratio of 32.73, a PEG ratio of 1.18 and a beta of 0.95. DXC Technology has a twelve month low of $67.76 and a twelve month high of $102.95.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.99 by $0.16. The business had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.19 billion. DXC Technology had a net margin of 5.18% and a return on equity of 17.97%. The business’s quarterly revenue was up 222.7% compared to the same quarter last year. analysts forecast that DXC Technology will post 7.83 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in DXC. Royal Bank of Canada acquired a new stake in shares of DXC Technology during the 2nd quarter worth about $10,753,000. Macquarie Group Ltd. acquired a new stake in shares of DXC Technology during the 2nd quarter worth about $2,436,000. Gotham Asset Management LLC acquired a new stake in shares of DXC Technology during the 2nd quarter worth about $1,510,000. Cubist Systematic Strategies LLC acquired a new stake in shares of DXC Technology during the 2nd quarter worth about $713,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in shares of DXC Technology during the 2nd quarter worth about $1,265,000. 84.62% of the stock is currently owned by institutional investors.

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DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.

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