DXC Technology (NYSE:DXC) Shares Gap Up to $18.41

DXC Technology (NYSE:DXC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $18.41, but opened at $18.79. DXC Technology shares last traded at $18.56, with a volume of 199,620 shares.

Wall Street Analyst Weigh In

Several brokerages have commented on DXC. TD Cowen dropped their price objective on DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Susquehanna lifted their price target on DXC Technology from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Stifel Nicolaus lowered their price target on DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. BMO Capital Markets lowered their price target on DXC Technology from $23.00 to $17.50 and set a “market perform” rating on the stock in a research note on Friday, May 17th. Finally, Morgan Stanley lowered their price target on DXC Technology from $21.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.14.

DXC Technology Price Performance

The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 50.65, a PEG ratio of 2.10 and a beta of 1.73. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50 day moving average of $18.26 and a 200 day moving average of $20.75.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, May 16th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.83 by $0.14. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the previous year, the firm posted $1.02 EPS. DXC Technology’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that DXC Technology will post 2.73 EPS for the current year.

Institutional Trading of DXC Technology

Several institutional investors and hedge funds have recently made changes to their positions in the company. Glenview Capital Management LLC raised its stake in DXC Technology by 33.6% during the 4th quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock valued at $297,461,000 after acquiring an additional 3,272,212 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in DXC Technology by 19.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock valued at $193,679,000 after acquiring an additional 1,386,314 shares during the last quarter. Pacer Advisors Inc. raised its stake in DXC Technology by 86.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after acquiring an additional 3,827,176 shares during the last quarter. FIL Ltd raised its stake in DXC Technology by 4.2% during the 4th quarter. FIL Ltd now owns 6,598,101 shares of the company’s stock valued at $150,899,000 after acquiring an additional 267,480 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in DXC Technology by 1.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 3,184,365 shares of the company’s stock valued at $67,615,000 after acquiring an additional 55,467 shares during the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

About DXC Technology

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).