Zacks Investment Research upgraded shares of DXC Technology Company. (NYSE:DXC) from a hold rating to a buy rating in a research note issued to investors on Tuesday. They currently have $99.00 price objective on the stock.
According to Zacks, “DXC Technology is a result of merger between CSC and Enterprise Services Division of HPE. We believe that the merger has opened new avenues of growth for the combined company. Recently, DXC expanded its ties with VMware. We believe that the partnership will enable DXC to offer an efficient and improved hybrid IT environment to drive performance. Going ahead, following the footsteps of Computer Sciences, DXC Technology may be seen making strategic acquisitions to strengthen its portfolio, which should drive growth over the long run. Notably, the company has outperformed the industry over the past one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability. Additionally, a challenging macroeconomic situation and uncertain IT spending environment remain other headwinds.”
DXC has been the subject of several other reports. Morgan Stanley upgraded DXC Technology Company. from an equal weight rating to an overweight rating and lifted their price target for the company from $68.00 to $85.00 in a research report on Tuesday, July 4th. Jefferies Group LLC lifted their price target on DXC Technology Company. from $85.00 to $100.00 and gave the company a buy rating in a research report on Thursday, August 24th. KeyCorp reiterated an overweight rating and set a $99.00 price target (up from $92.00) on shares of DXC Technology Company. in a research report on Monday. BMO Capital Markets reiterated an outperform rating and set a $94.00 price target (up from $92.00) on shares of DXC Technology Company. in a research report on Wednesday, August 9th. Finally, Royal Bank Of Canada reiterated a buy rating and set a $87.00 price target on shares of DXC Technology Company. in a research report on Friday, July 7th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $93.67.
Shares of DXC Technology Company. (NYSE:DXC) traded up 0.4238% during trading on Tuesday, reaching $91.5865. The company’s stock had a trading volume of 360,081 shares. The firm’s 50-day moving average is $85.46 and its 200-day moving average is $79.53. The stock has a market capitalization of $26.07 billion, a PE ratio of 288.9164 and a beta of 1.04. DXC Technology Company. has a 12-month low of $51.68 and a 12-month high of $93.40.
DXC Technology Company. (NYSE:DXC) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.34. DXC Technology Company. had a return on equity of 17.51% and a net margin of 0.49%. The firm had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $5.95 billion. Equities analysts expect that DXC Technology Company. will post $6.82 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Wednesday, September 6th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, September 1st. DXC Technology Company.’s dividend payout ratio (DPR) is presently -378.95%.
In other news, EVP Michael G. Nefkens sold 128,328 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.03, for a total value of $10,270,089.84. Following the completion of the sale, the executive vice president now directly owns 25,447 shares in the company, valued at $2,036,523.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul N. Saleh sold 80,922 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $84.01, for a total value of $6,798,257.22. Following the completion of the sale, the chief financial officer now owns 217,211 shares of the company’s stock, valued at $18,247,896.11. The disclosure for this sale can be found here. Insiders sold 359,666 shares of company stock valued at $29,091,539 over the last 90 days. Company insiders own 1.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of DXC Technology Company. in the second quarter valued at approximately $101,000. Hanson McClain Inc. purchased a new stake in shares of DXC Technology Company. in the second quarter valued at approximately $105,000. Pinebridge Investments L.P. purchased a new stake in shares of DXC Technology Company. in the second quarter valued at approximately $106,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of DXC Technology Company. in the second quarter valued at approximately $109,000. Finally, Cribstone Capital Management LLC increased its position in shares of DXC Technology Company. by 4.7% in the second quarter. Cribstone Capital Management LLC now owns 1,408 shares of the company’s stock valued at $108,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.
About DXC Technology Company.
DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.
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