DXC Technology (NYSE:DXC) Updates Q1 2023 Earnings Guidance

DXC Technology (NYSE:DXC – Get Rating) updated its first quarter 2023 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.80-$0.85 for the period, compared to the consensus estimate of $0.94. The company issued revenue guidance of $3.70M-$3.75 billion, compared to the consensus revenue estimate of $4.03 billion.DXC Technology also updated its FY 2023 guidance to $3.85-$4.15 EPS.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of DXC Technology from a sell rating to a hold rating and set a $37.00 price objective for the company in a research note on Friday, February 4th. Bank of America lowered shares of DXC Technology from a buy rating to an underperform rating and decreased their price target for the stock from $45.00 to $30.00 in a research note on Wednesday, March 9th. JPMorgan Chase & Co. decreased their price target on shares of DXC Technology from $41.00 to $39.00 and set an underweight rating for the company in a research note on Tuesday, March 22nd. BMO Capital Markets decreased their price target on shares of DXC Technology from $40.00 to $35.00 in a research note on Tuesday, January 25th. Finally, Cowen decreased their price target on shares of DXC Technology from $50.00 to $45.00 in a research note on Thursday, February 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, DXC Technology has an average rating of Hold and a consensus target price of $41.75.

NYSE:DXC traded up $0.01 during trading hours on Wednesday, reaching $29.45. The company’s stock had a trading volume of 3,712,641 shares, compared to its average volume of 2,093,842. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -12.12, a PEG ratio of 0.26 and a beta of 2.15. The firm has a 50-day simple moving average of $30.75 and a 200-day simple moving average of $31.90. DXC Technology has a 1 year low of $27.28 and a 1 year high of $44.18. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 1.12.

Large investors have recently modified their holdings of the stock. Cibc World Markets Corp increased its position in shares of DXC Technology by 65.3% in the first quarter. Cibc World Markets Corp now owns 14,863 shares of the company’s stock valued at $485,000 after acquiring an additional 5,871 shares during the period. William Blair Investment Management LLC increased its position in shares of DXC Technology by 8.3% in the fourth quarter. William Blair Investment Management LLC now owns 12,879 shares of the company’s stock valued at $415,000 after acquiring an additional 984 shares during the period. Mirabella Financial Services LLP purchased a new position in shares of DXC Technology in the first quarter valued at about $354,000. Vident Investment Advisory LLC increased its position in shares of DXC Technology by 29.9% in the first quarter. Vident Investment Advisory LLC now owns 9,828 shares of the company’s stock valued at $319,000 after acquiring an additional 2,265 shares during the period. Finally, Echo Street Capital Management LLC purchased a new position in shares of DXC Technology in the first quarter valued at about $314,000. Institutional investors own 89.41% of the company’s stock.

DXC Technology Company Profile (Get Rating)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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