Wolfe Research Downgrades DXC Technology (NYSE:DXC) to Strong Sell

DXC Technology (NYSE:DXC) was downgraded by investment analysts at Wolfe Research from a “strong-buy” rating to a “strong sell” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages have also weighed in on DXC. Stifel Nicolaus lowered their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, October 31st. Wall Street Zen upgraded DXC Technology from a “hold” rating to a “buy” rating in a report on Sunday, November 9th. Susquehanna set a $14.00 price objective on DXC Technology and gave the stock a “neutral” rating in a research report on Friday, October 31st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of DXC Technology in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, DXC Technology currently has an average rating of “Reduce” and a consensus price target of $15.00.

DXC Technology Stock Up 2.4%

NYSE DXC opened at $15.42 on Thursday. The business’s fifty day simple moving average is $14.08 and its 200-day simple moving average is $14.07. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. The firm has a market cap of $2.68 billion, a PE ratio of 7.59 and a beta of 1.04. DXC Technology has a 52 week low of $11.82 and a 52 week high of $23.75.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Friday, October 31st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.13. The firm had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.17 billion. DXC Technology had a net margin of 2.93% and a return on equity of 17.83%. DXC Technology’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.93 earnings per share. As a group, equities analysts anticipate that DXC Technology will post 3.35 earnings per share for the current year.

Insider Activity

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $15.15, for a total transaction of $37,875.00. Following the transaction, the senior vice president owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. This represents a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of DXC Technology

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 1,227 shares during the period. Smartleaf Asset Management LLC boosted its position in DXC Technology by 38.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,814 shares of the company’s stock valued at $38,000 after buying an additional 778 shares during the period. Headlands Technologies LLC purchased a new position in DXC Technology in the 2nd quarter valued at approximately $39,000. Rothschild Investment LLC grew its stake in shares of DXC Technology by 609.8% in the third quarter. Rothschild Investment LLC now owns 2,981 shares of the company’s stock worth $41,000 after acquiring an additional 2,561 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of DXC Technology by 187.3% during the second quarter. Signaturefd LLC now owns 3,054 shares of the company’s stock worth $47,000 after acquiring an additional 1,991 shares during the period. Institutional investors and hedge funds 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.