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

DXC Technology (NYSE:DXC) shares gapped up prior to trading 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 trading hands.

Analyst Ratings Changes

Several equities analysts have issued reports on DXC shares. Guggenheim assumed coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price on the stock. Morgan Stanley decreased their target price on shares of 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. Royal Bank of Canada lowered their price target on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a report on Friday, May 17th. Susquehanna raised their price objective on shares of DXC Technology from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, June 12th. Finally, Stifel Nicolaus lowered their target price on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, DXC Technology currently has an average rating of “Hold” and a consensus target price of $20.14.

DXC Technology Stock Performance

The firm has a market capitalization of $3.33 billion, a PE ratio of 49.78, a P/E/G ratio of 2.10 and a beta of 1.73. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.17 and a quick ratio of 1.17. The business has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $20.80.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.14. DXC Technology had a net margin of 0.67% and a return on equity of 18.43%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts expect that DXC Technology will post 2.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DXC Technology

Several large investors have recently modified their holdings of DXC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of DXC Technology by 3.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,254 shares of the company’s stock valued at $859,000 after acquiring an additional 1,545 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of DXC Technology by 9.9% in the third quarter. PNC Financial Services Group Inc. now owns 63,800 shares of the company’s stock worth $1,329,000 after purchasing an additional 5,735 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of DXC Technology during the third quarter worth about $197,000. Covestor Ltd boosted its position in DXC Technology by 2.9% in the third quarter. Covestor Ltd now owns 27,804 shares of the company’s stock valued at $579,000 after buying an additional 785 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in DXC Technology by 2.2% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 51,800 shares of the company’s stock worth $1,079,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

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).