DXC Technology (NYSE:DXC) Shares Gap Up on Analyst Upgrade

DXC Technology (NYSE:DXC) gapped up before the market opened on Friday after Susquehanna raised their price target on the stock from $19.00 to $23.00. The stock had previously closed at $22.58, but opened at $23.71. Susquehanna currently has a neutral rating on the stock. DXC Technology shares last traded at $24.40, with a volume of 1,397,906 shares changing hands.

Several other analysts have also commented on the stock. BMO Capital Markets lifted their price objective on shares of DXC Technology from $17.50 to $22.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of DXC Technology from $19.00 to $22.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada boosted their price target on shares of DXC Technology from $18.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.56.

Insider Transactions at DXC Technology

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the completion of the sale, the senior vice president now directly owns 83,746 shares in the company, valued at approximately $1,789,652.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $21.37, for a total value of $53,425.00. Following the completion of the sale, the senior vice president now directly owns 83,746 shares in the company, valued at approximately $1,789,652.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mary E. Finch sold 31,047 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.36, for a total transaction of $601,069.92. Following the sale, the executive vice president now owns 325,665 shares of the company’s stock, valued at $6,304,874.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Several hedge funds have recently made changes to their positions in the business. William B. Walkup & Associates Inc. purchased a new stake in DXC Technology in the second quarter worth about $26,000. Mather Group LLC. grew its stake in shares of DXC Technology by 55.0% in the 2nd quarter. Mather Group LLC. now owns 1,637 shares of the company’s stock worth $35,000 after buying an additional 581 shares during the last quarter. Fifth Third Bancorp increased its position in DXC Technology by 40.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company’s stock valued at $37,000 after buying an additional 559 shares in the last quarter. Family Firm Inc. purchased a new position in DXC Technology during the second quarter valued at $37,000. Finally, Matrix Trust Co bought a new stake in DXC Technology in the third quarter worth $43,000. 96.20% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 1.21 and a quick ratio of 1.21. The business has a 50 day moving average price of $20.66 and a 200 day moving average price of $19.41. The stock has a market capitalization of $4.34 billion, a PE ratio of 71.47, a PEG ratio of 1.79 and a beta of 1.67.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.17. DXC Technology had a net margin of 0.60% and a return on equity of 19.20%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.14 billion. As a group, equities research analysts expect that DXC Technology will post 2.89 earnings per share for the current year.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).