DXC Technology (NYSE:DXC) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of DXC Technology (NYSE:DXC) from a buy rating to a hold rating in a research report report published on Saturday morning.

Several other brokerages have also issued reports on DXC. Wolfe Research set a $13.00 target price on DXC Technology and gave the company an “underperform” rating in a research note on Friday. Stifel Nicolaus decreased their price objective on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of DXC Technology in a report on Wednesday, October 8th. Finally, Susquehanna set a $14.00 target price on shares of DXC Technology and gave the stock a “neutral” rating in a research note on Friday, October 31st. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.71.

DXC Technology Stock Performance

NYSE DXC opened at $15.29 on Friday. The company has a market capitalization of $2.66 billion, a PE ratio of 6.56 and a beta of 1.07. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.09 and a current ratio of 1.35. DXC Technology has a 52-week low of $11.82 and a 52-week high of $23.75. The company has a 50-day simple moving average of $14.65 and a 200 day simple moving average of $14.01.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the firm earned $0.92 EPS. The company’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that DXC Technology will post 3.35 EPS for the current year.

Insider Buying and Selling at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $15.15, for a total value of $37,875.00. Following the sale, the senior vice president directly owned 88,605 shares of the company’s stock, valued at approximately $1,342,365.75. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of DXC Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC lifted its stake in DXC Technology by 93.7% during the second quarter. Hsbc Holdings PLC now owns 588,791 shares of the company’s stock worth $9,003,000 after purchasing an additional 284,882 shares during the last quarter. Marex Group plc bought a new position in shares of DXC Technology during the 2nd quarter valued at about $1,697,000. AGF Management Ltd. raised its holdings in shares of DXC Technology by 35.9% during the 2nd quarter. AGF Management Ltd. now owns 198,408 shares of the company’s stock valued at $3,034,000 after buying an additional 52,367 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of DXC Technology by 893.2% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 379,400 shares of the company’s stock valued at $5,801,000 after buying an additional 341,200 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in DXC Technology by 23.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 370,768 shares of the company’s stock worth $5,052,000 after buying an additional 70,782 shares during the last quarter. 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.