DXC Technology (NYSE:DXC) Shares Up 4.1% – Time to Buy?

DXC Technology Company. (NYSE:DXC) shares traded up 4.1% during trading on Friday . The company traded as high as $9.71 and last traded at $9.6520. Approximately 155,240 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 3,854,354 shares. The stock had previously closed at $9.27.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BMO Capital Markets decreased 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. Morgan Stanley cut their price objective on DXC Technology from $15.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 14th. Stifel Nicolaus set a $12.00 target price on shares of DXC Technology in a report on Friday, May 8th. Zacks Research upgraded shares of DXC Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $16.00 price target on shares of DXC Technology in a report on Friday, June 12th. Seven investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.25.

DXC Technology Stock Up 8.9%

The company has a 50-day moving average price of $9.24 and a 200 day moving average price of $11.57. The firm has a market capitalization of $1.65 billion, a PE ratio of 168.28 and a beta of 0.82. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.36 and a quick ratio of 1.36.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The firm had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.17 billion. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. Analysts forecast that DXC Technology Company. will post 2.61 earnings per share for the current year.

Insider Activity

In related news, CEO Raul J. Fernandez acquired 28,051 shares of DXC Technology stock in a transaction dated Monday, May 11th. The shares were purchased 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 in the company, valued at approximately $7,512,062.80. This represents a 3.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On DXC Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in DXC Technology by 28.1% in the third quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company’s stock worth $10,127,000 after purchasing an additional 162,958 shares during the last quarter. SG Americas Securities LLC lifted its position in DXC Technology by 1,171.6% during the fourth quarter. SG Americas Securities LLC now owns 752,329 shares of the company’s stock valued at $11,022,000 after purchasing an additional 693,167 shares during the last quarter. CastleKnight Management LP lifted its position in DXC Technology by 344.7% during the fourth quarter. CastleKnight Management LP now owns 324,651 shares of the company’s stock valued at $4,756,000 after purchasing an additional 251,651 shares during the last quarter. Waterfront Wealth Inc. grew its stake in shares of DXC Technology by 55.4% in the 4th quarter. Waterfront Wealth Inc. now owns 220,922 shares of the company’s stock worth $3,285,000 after buying an additional 78,730 shares in the last quarter. Finally, SEB Asset Management AB purchased a new position in shares of DXC Technology in the 1st quarter worth $12,103,000. Institutional investors 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.