DXC Technology (NYSE:DXC) Trading Up 4.1% – Still a Buy?

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on DXC shares. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded DXC Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, July 13th. BMO Capital Markets dropped their price objective on DXC Technology from $17.00 to $10.00 and set a “market perform” rating on the stock in a report on Monday, May 11th. Weiss Ratings downgraded DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, Stifel Nicolaus set a $12.00 target price on DXC Technology in a report on Friday, May 8th. Seven equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $12.25.

DXC Technology Stock Performance

The company’s fifty day simple moving average is $9.22 and its 200 day simple moving average is $11.58. The stock has a market capitalization of $1.64 billion, a P/E ratio of 166.80 and a beta of 0.82. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.94.

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

Insider Buying and Selling at DXC Technology

In related news, CEO Raul J. Fernandez acquired 28,051 shares of the 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 transaction, the chief executive officer owned 844,052 shares in the company, valued at $7,512,062.80. This represents a 3.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 1.13% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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

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.