DXC Technology (NYSE:DXC) Rating Lowered to “Hold” at Zacks Research

DXC Technology (NYSE:DXC) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. BMO Capital Markets lifted their target price 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. Finally, Wolfe Research set a $13.00 price target on DXC Technology and gave the company an “underperform” rating in a report on Friday, January 30th. Seven analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Trading Up 6.3%

DXC Technology stock traded up $0.79 during trading on Tuesday, reaching $13.27. The company had a trading volume of 2,366,659 shares, compared to its average volume of 2,438,001. The stock’s 50 day moving average price is $14.12 and its two-hundred day moving average price is $13.92. DXC Technology has a 12-month low of $11.61 and a 12-month high of $18.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 5.70 and a beta of 1.10.

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

Insider Transactions at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez purchased 16,446 shares of DXC Technology 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 acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Christopher Anthony Voci sold 2,500 shares of DXC Technology stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $15.15, for a total value of $37,875.00. Following the sale, the senior vice president owned 88,605 shares in the company, valued at $1,342,365.75. This represents a 2.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DXC Technology

Hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in DXC Technology by 97.0% in the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after acquiring an additional 1,936,726 shares during the period. Assenagon Asset Management S.A. grew its holdings in DXC Technology by 2,316.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after acquiring an additional 1,505,069 shares during the period. UBS Group AG raised its holdings 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 worth $27,906,000 after purchasing an additional 1,161,879 shares in the last quarter. Norges Bank bought a new position in shares of DXC Technology in the second quarter valued at $16,589,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of DXC Technology by 1,156.1% during the second quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock valued at $17,317,000 after purchasing an additional 1,042,409 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Company Profile

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.