DXC Technology Company. (NYSE:DXC) Given Average Rating of “Reduce” by Brokerages

Shares of DXC Technology Company. (NYSE:DXC) have been assigned a consensus rating of “Reduce” from the ten ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $14.7143.

DXC has been the topic of several research reports. Wolfe Research set a $13.00 price target on shares of DXC Technology and gave the company an “underperform” rating in a report on Friday, January 30th. Wall Street Zen upgraded shares of DXC Technology from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. BMO Capital Markets boosted their target price on shares of DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 3rd. Finally, Zacks Research downgraded shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd.

DXC Technology Price Performance

Shares of DXC stock opened at $11.83 on Friday. The business has a fifty day simple moving average of $13.79 and a 200 day simple moving average of $13.85. The company has a market cap of $2.01 billion, a P/E ratio of 5.08 and a beta of 1.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. DXC Technology has a twelve month low of $11.61 and a twelve month high of $17.86.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, January 29th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.18 billion. DXC Technology had a return on equity of 17.56% and a net margin of 3.34%.The business’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. On average, sell-side analysts forecast that DXC Technology will post 3.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Raul J. Fernandez acquired 16,446 shares of DXC Technology stock in a transaction that occurred on Monday, February 2nd. The shares were acquired at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the transaction, the chief executive officer directly owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. The trade was a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of DXC Technology

A number of hedge funds have recently made changes to their positions in DXC. EverSource Wealth Advisors LLC increased its stake in shares of DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock valued at $27,000 after buying an additional 1,227 shares during the period. Danske Bank A S boosted its position in DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock worth $28,000 after buying an additional 1,400 shares during the period. Fifth Third Bancorp boosted its position in DXC Technology by 116.0% during the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after buying an additional 1,129 shares during the period. Hantz Financial Services Inc. grew its holdings in DXC Technology by 110.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after acquiring an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in DXC Technology by 13,258.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock valued at $33,000 after acquiring an additional 2,254 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

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.