DXC Technology (NYSE:DXC) Trading Down 7.7% – Time to Sell?
by Kim Johansen · The Markets DailyDXC Technology Company. (NYSE:DXC – Get Free Report) shares fell 7.7% during trading on Monday . The company traded as low as $13.89 and last traded at $14.0310. 321,433 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 2,083,293 shares. The stock had previously closed at $15.20.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on DXC. Susquehanna set a $14.00 price objective on DXC Technology and gave the stock a “neutral” rating in a report on Friday, October 31st. Zacks Research raised DXC Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Wolfe Research set a $13.00 price objective on DXC Technology and gave the company an “underperform” rating in a report on Friday, January 30th. Wall Street Zen downgraded DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Stifel Nicolaus reduced their target price on shares of DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, DXC Technology has a consensus rating of “Reduce” and a consensus target price of $14.71.
View Our Latest Analysis on DXC Technology
DXC Technology Price Performance
The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 5.93 and a beta of 1.07. The business’s 50 day simple moving average is $14.79 and its 200-day simple moving average is $14.00.
DXC Technology (NYSE:DXC – Get Free Report) last issued its quarterly earnings results on Thursday, January 29th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.13. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.18 billion. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. On average, research analysts forecast that DXC Technology Company. will post 3.35 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Raul J. Fernandez acquired 16,446 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of $15.24 per share, with a total value of $250,637.04. Following the purchase, the chief executive officer directly owned 816,001 shares in the company, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher Anthony Voci sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $15.15, for a total transaction of $37,875.00. Following the completion of the sale, the senior vice president owned 88,605 shares in the company, valued at $1,342,365.75. This represents a 2.74% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.61% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On DXC Technology
A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of DXC Technology by 97.0% during the second quarter. AQR Capital Management LLC now owns 3,933,973 shares of the company’s stock valued at $60,150,000 after purchasing an additional 1,936,726 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock valued at $23,001,000 after buying an additional 1,505,069 shares during the last quarter. UBS Group AG raised its holdings in DXC Technology by 131.2% in the 3rd quarter. UBS Group AG now owns 2,047,395 shares of the company’s stock valued at $27,906,000 after buying an additional 1,161,879 shares during the last quarter. Norges Bank acquired a new stake in DXC Technology during the 2nd quarter worth approximately $16,589,000. Finally, Qube Research & Technologies Ltd grew its holdings in DXC Technology by 1,156.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,132,578 shares of the company’s stock worth $17,317,000 after acquiring an additional 1,042,409 shares during the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.
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.