Zacks Investment Research upgraded shares of DXC Technology (NYSE:DXC) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $109.00 target price on the stock.
According to Zacks, “DXC Technology reported mixed third-quarter fiscal 2018 results, where in the bottom line surpassed the Zacks Consensus Estimate while the top line missed the same. The company’s upbeat guidance for earnings makes us optimistic about its near-term performance. 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. 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. Additionally, the company’s traction in the cloud and partnerships with HCL, AT&T, VMware and Microsoft are expected to drive growth, going forward. The stock has outperformed the industry in the last one year. Nonetheless, rising interest expenses due to increased debt burden may dampen its profitability.”
Other equities analysts also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of DXC Technology from $104.00 to $114.00 and gave the stock an overweight rating in a research note on Monday, February 5th. Citigroup lifted their target price on shares of DXC Technology to $107.00 in a research note on Wednesday, November 8th. Evercore ISI began coverage on shares of DXC Technology in a research note on Tuesday, October 17th. They issued an outperform rating and a $115.00 target price for the company. Cantor Fitzgerald reiterated a hold rating and issued a $93.00 target price on shares of DXC Technology in a research note on Wednesday, November 8th. Finally, BMO Capital Markets lifted their target price on shares of DXC Technology from $105.00 to $110.00 and gave the stock an outperform rating in a research note on Wednesday, November 8th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $103.33.
DXC Technology (NYSE DXC) opened at $101.09 on Tuesday. The firm has a market cap of $28,608.79, a PE ratio of 33.04, a PEG ratio of 1.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.99 and a quick ratio of 1.00. DXC Technology has a 12 month low of $67.76 and a 12 month high of $102.95.
DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, February 8th. The company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.16. The firm had revenue of $6.19 billion during the quarter, compared to the consensus estimate of $6.19 billion. DXC Technology had a net margin of 5.18% and a return on equity of 17.97%. The company’s revenue was up 222.7% compared to the same quarter last year. equities research analysts expect that DXC Technology will post 7.83 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Burke & Herbert Bank & Trust Co. bought a new position in shares of DXC Technology in the fourth quarter valued at approximately $259,000. Ameritas Investment Partners Inc. bought a new stake in DXC Technology during the second quarter valued at approximately $502,000. Prudential Financial Inc. lifted its position in DXC Technology by 0.5% during the third quarter. Prudential Financial Inc. now owns 398,426 shares of the company’s stock valued at $34,217,000 after purchasing an additional 1,990 shares during the last quarter. California Public Employees Retirement System lifted its position in DXC Technology by 1.5% during the third quarter. California Public Employees Retirement System now owns 653,530 shares of the company’s stock valued at $56,125,000 after purchasing an additional 9,383 shares during the last quarter. Finally, Cetera Investment Advisers bought a new stake in DXC Technology during the second quarter valued at approximately $272,000. Institutional investors own 84.62% of the company’s stock.
About DXC Technology
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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