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 Friday morning. The firm currently has $102.00 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.”
A number of other research firms have also issued reports on DXC. Barclays PLC raised their target price on shares of DXC Technology Company. from $90.00 to $100.00 and gave the company an overweight rating in a research note on Thursday, October 12th. KeyCorp reiterated an overweight rating and issued a $99.00 target price (up from $92.00) on shares of DXC Technology Company. in a research note on Monday, October 9th. Jefferies Group LLC raised their price target on shares of DXC Technology Company. from $85.00 to $100.00 and gave the stock a buy rating in a research report on Thursday, August 24th. Cantor Fitzgerald restated a hold rating and issued a $79.00 price target on shares of DXC Technology Company. in a research report on Friday, August 11th. Finally, Citigroup Inc. raised their price target on shares of DXC Technology Company. from $97.00 to $101.00 and gave the stock a buy rating in a research report on Friday, October 13th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $96.38.
Shares of DXC Technology Company. (NYSE:DXC) opened at 91.89 on Friday. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of 289.87 and a beta of 1.04. DXC Technology Company. has a 52 week low of $64.06 and a 52 week high of $93.40. The stock has a 50 day moving average of $86.61 and a 200-day moving average of $80.47.
DXC Technology Company. (NYSE:DXC) last posted its earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.34. DXC Technology Company. had a net margin of 0.49% and a return on equity of 17.51%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $5.95 billion. Equities research analysts expect that DXC Technology Company. will post $6.83 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 11th. Shareholders of record on Wednesday, September 6th were given a $0.18 dividend. The ex-dividend date was Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.78%. DXC Technology Company.’s dividend payout ratio is -378.95%.
In other news, EVP Michael G. Nefkens sold 35,340 shares of DXC Technology Company. stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $92.00, for a total transaction of $3,251,280.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Paul N. Saleh sold 40,460 shares of DXC Technology Company. stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $82.54, for a total transaction of $3,339,568.40. Following the sale, the chief financial officer now owns 136,384 shares in the company, valued at $11,257,135.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 156,722 shares of company stock worth $13,389,106. 1.30% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the company. Prudential Financial Inc. acquired a new stake in shares of DXC Technology Company. during the 2nd quarter valued at about $30,415,000. Burney Co. acquired a new stake in shares of DXC Technology Company. during the 2nd quarter valued at about $1,029,000. Creative Planning acquired a new stake in shares of DXC Technology Company. during the 2nd quarter valued at about $850,000. Investec Asset Management PTY Ltd acquired a new stake in shares of DXC Technology Company. during the 2nd quarter valued at about $434,000. Finally, State of Tennessee Treasury Department acquired a new stake in shares of DXC Technology Company. during the 2nd quarter valued at about $11,312,000. Institutional investors and hedge funds own 85.05% of the company’s stock.
DXC Technology Company. Company Profile
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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