DXC Technology (NYSE:DXC) Trading 9.4% Higher – Time to Buy?

DXC Technology Company. (NYSE:DXC)’s stock price rose 9.4% during trading on Wednesday . The company traded as high as $9.65 and last traded at $9.6860. 2,398,163 shares changed hands during trading, a decline of 38% from the average daily volume of 3,862,121 shares. The stock had previously closed at $8.85.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DXC shares. TD Cowen decreased their price objective on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. BMO Capital Markets dropped their price objective on DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $12.00 price target on DXC Technology in a research report on Friday, May 8th. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DXC Technology has a consensus rating of “Reduce” and an average target price of $12.75.

DXC Technology Stock Down 0.3%

The firm has a market capitalization of $1.62 billion, a PE ratio of 164.65 and a beta of 0.82. The company’s 50 day simple moving average is $9.60 and its 200-day simple moving average is $12.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.36 and a current ratio of 1.36.

DXC Technology (NYSE:DXC) last posted its earnings results on Friday, May 8th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.17 billion. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 earnings per share. On average, analysts forecast that DXC Technology Company. will post 2.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Raul J. Fernandez purchased 28,051 shares of the stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $8.90 per share, for a total transaction of $249,653.90. Following the completion of the transaction, the chief executive officer directly owned 844,052 shares of the company’s stock, valued at approximately $7,512,062.80. This trade represents a 3.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 1.13% of the stock is currently owned by corporate insiders.

Institutional Trading of DXC Technology

A number of institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc grew its stake in shares of DXC Technology by 47.4% in the second quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock worth $66,000 after purchasing an additional 2,404 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in DXC Technology by 13.3% in the first quarter. Glenmede Trust Co. NA now owns 880,260 shares of the company’s stock worth $11,065,000 after purchasing an additional 103,221 shares during the period. Access Investment Management LLC bought a new position in shares of DXC Technology during the first quarter valued at approximately $6,256,000. Bank of America Corp DE lifted its holdings in shares of DXC Technology by 41.1% during the first quarter. Bank of America Corp DE now owns 1,074,481 shares of the company’s stock valued at $13,506,000 after purchasing an additional 313,078 shares during the last quarter. Finally, Amundi boosted its position in shares of DXC Technology by 79.4% in the 1st quarter. Amundi now owns 45,502 shares of the company’s stock worth $572,000 after purchasing an additional 20,143 shares in the last quarter. Hedge funds and other institutional investors 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.