DXC Technology (NYSE:DXC) Sees Large Volume Increase – What’s Next?

DXC Technology Company. (NYSE:DXC) saw unusually-strong trading volume on Thursday . Approximately 2,048,162 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 3,433,196 shares.The stock last traded at $8.8940 and had previously closed at $8.82.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on DXC shares. TD Cowen reduced their target price on DXC Technology from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Stifel Nicolaus set a $12.00 target price on DXC Technology in a research note on Friday, May 8th. Morgan Stanley cut their price target on DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen lowered DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, BMO Capital Markets cut their price target 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. Six research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $12.75.

DXC Technology Stock Performance

The business has a 50-day moving average of $10.81 and a two-hundred day moving average of $12.73. The company has a market cap of $1.44 billion, a P/E ratio of 146.55 and a beta of 0.81. 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 issued its quarterly earnings data on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter last year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts predict that DXC Technology Company. will post 2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Raul J. Fernandez acquired 28,051 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $8.90 per share, with a total value of $249,653.90. Following the completion of the transaction, the chief executive officer directly owned 844,052 shares in the company, valued at $7,512,062.80. This trade represents a 3.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.13% of the stock is currently owned by insiders.

Institutional Investors Weigh In On DXC Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted 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 acquiring an additional 1,227 shares in the last quarter. Danske Bank A S boosted 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 acquiring an additional 1,400 shares in the last quarter. Fifth Third Bancorp boosted 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 acquiring an additional 1,129 shares in the last quarter. Hantz Financial Services Inc. boosted 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 acquiring an additional 1,147 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted 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 acquiring an additional 2,254 shares in the last quarter. Institutional investors 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.