Cantor Fitzgerald Reaffirms “Hold” Rating for DXC Technology (DXC)
Cantor Fitzgerald reissued their hold rating on shares of DXC Technology (NYSE:DXC) in a research note published on Wednesday, The Fly reports. The brokerage currently has a $70.00 target price on the stock.
“. We maintain our Neutral rating on DXC and lower our 12-month PT to $70 from $87. We continue to look for signs pointing to consistent organic growth. DXC’s results missed top-line projections, but topped non-GAAP EPS estimates, as solid margin expansion continued. Revenues fell by mid-single digits organically in constant currency (cc). We will continue to evaluate the projected targets and look for signs of a return to organic growth.”,” Cantor Fitzgerald’s analyst wrote.
Several other analysts also recently commented on DXC. Zacks Investment Research raised DXC Technology from a hold rating to a buy rating and set a $98.00 price objective for the company in a research note on Tuesday, August 21st. ValuEngine downgraded DXC Technology from a sell rating to a strong sell rating in a research note on Friday, November 2nd. Royal Bank of Canada reaffirmed a buy rating and set a $103.00 price objective on shares of DXC Technology in a research note on Wednesday, August 8th. Wolfe Research began coverage on DXC Technology in a research note on Tuesday, July 17th. They set an outperform rating for the company. Finally, BMO Capital Markets reduced their price objective on DXC Technology from $110.00 to $95.00 and set an outperform rating for the company in a research note on Friday, November 2nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $99.87.
DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $2.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.96 by $0.06. The firm had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.30 billion. DXC Technology had a return on equity of 19.07% and a net margin of 8.15%. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 EPS. As a group, sell-side analysts expect that DXC Technology will post 8.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 4th. DXC Technology’s payout ratio is 9.57%.
In related news, CEO John M. Lawrie sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $94.15, for a total value of $235,375.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William L. Deckelman, Jr. sold 2,394 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $90.02, for a total value of $215,507.88. The disclosure for this sale can be found here. Insiders have sold a total of 181,158 shares of company stock worth $16,526,731 in the last quarter. 0.65% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DXC. OppenheimerFunds Inc. grew its holdings in shares of DXC Technology by 203.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,809,907 shares of the company’s stock worth $226,508,000 after acquiring an additional 1,884,465 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of DXC Technology by 1,424.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,687,338 shares of the company’s stock worth $136,016,000 after acquiring an additional 1,576,638 shares during the period. Natixis grew its holdings in shares of DXC Technology by 548.4% in the 2nd quarter. Natixis now owns 1,779,865 shares of the company’s stock worth $143,475,000 after acquiring an additional 1,505,379 shares during the period. Prudential Financial Inc. grew its holdings in shares of DXC Technology by 469.8% in the 3rd quarter. Prudential Financial Inc. now owns 1,814,726 shares of the company’s stock worth $169,713,000 after acquiring an additional 1,496,224 shares during the period. Finally, First Trust Advisors LP acquired a new stake in shares of DXC Technology in the 2nd quarter worth approximately $84,760,000. Institutional investors and hedge funds own 85.40% of the company’s stock.
About DXC Technology
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).
Featured Story: How Do I Invest in Dividend Stocks
Receive News & Ratings for DXC Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DXC Technology and related companies with MarketBeat.com's FREE daily email newsletter.