DXC Technology Company. (NYSE:DXC) Receives Consensus Recommendation of “Reduce” from Brokerages

DXC Technology Company. (NYSE:DXC) has been given a consensus recommendation of “Reduce” by the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $14.6250.

A number of research firms have recently issued reports on DXC. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. TD Cowen reduced their price target on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Wolfe Research set a $13.00 price target on shares of DXC Technology and gave the stock an “underperform” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of DXC Technology in a research report on Wednesday, April 8th. Finally, Zacks Research lowered shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 3rd.

Insider Buying and Selling

In other news, CEO Raul J. Fernandez acquired 16,446 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the acquisition, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This represents a 2.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in DXC Technology by 240.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after buying an additional 1,227 shares during the last quarter. Danske Bank A S increased its holdings in DXC Technology by 280.0% in the fourth 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 last quarter. Fifth Third Bancorp increased its holdings in DXC Technology by 116.0% in the fourth 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 last quarter. Hantz Financial Services Inc. increased its holdings in DXC Technology by 110.5% in the fourth quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after buying an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in 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 buying an additional 2,254 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Price Performance

NYSE DXC opened at $12.66 on Thursday. The company has a 50 day simple moving average of $12.62 and a 200-day simple moving average of $13.53. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 5.43 and a beta of 1.00. DXC Technology has a 52-week low of $11.23 and a 52-week high of $17.26.

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

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.