DXC Technology (NYSE:DXC) Stock Dropped to Strong Sell by Zacks Research

Zacks Research downgraded shares of DXC Technology (NYSE:DXC) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks reports.

A number of other research analysts have also issued reports on the stock. TD Cowen boosted their target price on shares of DXC Technology from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Stifel Nicolaus dropped their price target on shares of DXC Technology from $12.00 to $10.50 and set a “hold” rating on the stock in a research note on Friday, July 31st. Weiss Ratings cut DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Morgan Stanley boosted their price objective on DXC Technology from $9.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective on DXC Technology from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, October 30th. Six equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, DXC Technology presently has an average rating of “Reduce” and an average price target of $12.06.

DXC Technology Price Performance

Shares of DXC opened at $13.84 on Monday. The company has a market cap of $2.15 billion, a P/E ratio of 21.28 and a beta of 0.76. The stock has a fifty day moving average price of $12.43 and a 200 day moving average price of $11.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.15 and a quick ratio of 1.41. DXC Technology has a 12 month low of $7.90 and a 12 month high of $16.38.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, October 29th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.12. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates 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 for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. On average, research analysts forecast that DXC Technology will post 2.37 earnings per share for the current year.

Institutional Trading of DXC Technology

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of DXC Technology by 21.5% during the 2nd quarter. BlackRock Inc. now owns 28,276,735 shares of the company’s stock worth $250,249,000 after acquiring an additional 4,994,936 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of DXC Technology by 2.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company’s stock worth $126,068,000 after acquiring an additional 258,819 shares during the last quarter. State Street Corp grew its holdings in shares of DXC Technology by 25.0% in the 2nd quarter. State Street Corp now owns 7,683,280 shares of the company’s stock worth $67,997,000 after acquiring an additional 1,536,243 shares during the last quarter. Nykredit A S acquired a new stake in shares of DXC Technology during the second quarter worth $51,580,000. Finally, Allianz Asset Management GmbH raised its position in shares of DXC Technology by 58.3% during the second quarter. Allianz Asset Management GmbH now owns 1,564,754 shares of the company’s stock worth $13,848,000 after purchasing an additional 576,353 shares during the period. 96.20% of the stock is owned by institutional investors and hedge funds.

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.