DXC Technology (NYSE:DXC – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday, Zacks reports.
Other research analysts have also recently issued reports about the company. Stifel Nicolaus reduced their price objective on DXC Technology from $12.00 to $10.50 and set a “hold” rating for the company in a research note on Friday, July 31st. Morgan Stanley upped their target price on DXC Technology from $9.00 to $12.00 and gave the company an “equal weight” rating in a research report on Monday. Weiss Ratings downgraded shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Royal Bank Of Canada reduced their price target on shares of DXC Technology from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DXC Technology from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Friday, October 30th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, DXC Technology presently has an average rating of “Reduce” and an average target price of $12.06.
Read Our Latest Stock Report on DXC Technology
DXC Technology Stock Down 6.3%
Shares of DXC Technology stock opened at $13.84 on Monday. The company has a quick ratio of 1.41, a current ratio of 1.15 and a debt-to-equity ratio of 0.64. The company has a market cap of $2.15 billion, a P/E ratio of 21.28 and a beta of 0.76. The firm’s 50 day moving average price is $12.43 and its 200-day moving average price is $11.58. DXC Technology has a 52-week low of $7.90 and a 52-week high of $16.38.
DXC Technology (NYSE:DXC – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. DXC Technology had a return on equity of 14.35% and a net margin of 0.91%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. On average, sell-side analysts predict that DXC Technology will post 2.37 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of DXC. Bessemer Group Inc. lifted its position in shares of DXC Technology by 61.1% in the first quarter. Bessemer Group Inc. now owns 3,680 shares of the company’s stock valued at $47,000 after acquiring an additional 1,395 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of DXC Technology by 289.0% during the third quarter. Farther Finance Advisors LLC now owns 4,396 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares in the last quarter. Covestor Ltd raised its stake in DXC Technology by 31.2% in the 2nd quarter. Covestor Ltd now owns 6,603 shares of the company’s stock valued at $58,000 after purchasing an additional 1,570 shares during the last quarter. Versant Capital Management Inc raised its stake in DXC Technology by 47.4% in the 2nd quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock valued at $66,000 after purchasing an additional 2,404 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in DXC Technology in the 2nd quarter valued at $94,000. 96.20% of the stock is owned by hedge funds and other institutional investors.
About DXC Technology
DXC Technology (NYSE: DXC) is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its services include consulting, application development and management, cloud migration and operations, cybersecurity, data and analytics, enterprise technology management, and workplace and end-user services.
The company serves businesses and government organizations across a range of industries, including financial services, healthcare, insurance, manufacturing, aerospace and defense, automotive, retail, and the public sector.
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