DXC Technology (NYSE:DXC) Shares Gap Up to $13.91

DXC Technology Co (NYSE:DXC)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.52, but opened at $13.91. DXC Technology shares last traded at $15.80, with a volume of 4,949,208 shares changing hands.

A number of brokerages have issued reports on DXC. Morgan Stanley reissued a “buy” rating and set a $35.00 target price on shares of DXC Technology in a research note on Wednesday, March 11th. Wells Fargo & Co decreased their target price on shares of DXC Technology from $36.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday, March 11th. BMO Capital Markets lifted their target price on shares of DXC Technology to $43.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on shares of DXC Technology from $40.00 to $47.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Moffett Nathanson raised shares of DXC Technology from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Thursday, March 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. DXC Technology has a consensus rating of “Hold” and an average target price of $45.86.

The firm has a market cap of $2.96 billion, a price-to-earnings ratio of -2.53 and a beta of 2.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average is $17.96 and its 200-day moving average is $29.30.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, February 6th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.17. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.90 billion. DXC Technology had a negative net margin of 7.98% and a positive return on equity of 16.98%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.23 EPS. As a group, research analysts predict that DXC Technology Co will post 5.39 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 14th. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Tuesday, March 24th. DXC Technology’s dividend payout ratio is 10.07%.

Institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in DXC Technology by 0.6% during the 4th quarter. Arizona State Retirement System now owns 132,473 shares of the company’s stock worth $4,980,000 after acquiring an additional 798 shares during the last quarter. Scout Investments Inc. bought a new position in shares of DXC Technology during the 4th quarter worth about $21,838,000. Crossmark Global Holdings Inc. increased its holdings in shares of DXC Technology by 37.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 42,834 shares of the company’s stock worth $1,610,000 after purchasing an additional 11,714 shares during the period. KAMES CAPITAL plc increased its holdings in shares of DXC Technology by 415.4% during the 4th quarter. KAMES CAPITAL plc now owns 588,188 shares of the company’s stock worth $22,110,000 after purchasing an additional 474,056 shares during the period. Finally, Zeke Capital Advisors LLC bought a new position in shares of DXC Technology during the 4th quarter worth about $679,000. 91.56% of the stock is owned by hedge funds and other institutional investors.

About DXC Technology (NYSE:DXC)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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